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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
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