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Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
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