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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, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Economic Council, Georgia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
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