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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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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Central Electricity Authority - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Planning Commission, India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
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