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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
 * COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
Reuters reported that, Recapital Advisors, an Indonesian investment firm, is nearing an agreement to buy Indonesian coal miner PT Berau Coal for at least $1.3 billion, according to sources familiar with the deal.
Recapital has received a verbal agreement that they are the winning bidder for Indonesia's fifth biggest coal miner, two sources told Reuters, adding the deal could be finalised by the end of the year. Under the deal, Recapital will buy a 51 percent stake from Armadian Tritunggal -- an investment firm controlled by Indonesian businessman Rizal Risjad -- which would trigger the sale of remaining shares in Berau, sources said.
"Yes we are bidding for Berau," Rosan P. Roeslani, president director of Recapital, told Reuters, without confirming that his firm was the winning bidder.
Indonesia is the world's biggest exporter of thermal coal and is a key supplier to North Asia, India and increasingly China. The sources said Recapital is backed by Indonesia's politically-connected Bakrie group, which also owns a big stake in coal miner Bumi Resources, though Roeslani said Recapital was not teaming up with the Bakrie group for the deal.
The sources declined to be identified because the deal was not public. Credit Suisse is advising Recapital, one of the sources said. The sale is being run by Deutsche Bank, Bank of America's Merrill Lynch, and former Merrill banker Sheldon Trainor's PacBridge Capital Partners. TWISTS AND TURNS The deal has seen many twists and turns since it was launched earlier this year. China's Huaneng Power and Indonesia's PT Indika Energy had also submitted bids, sources told Reuters in July.
Thailand's top coal miner Banpu may also have bid for the stake while mining giant Xstrata and Peabody Energy previously expressed interest. Sources said Berau -- Indonesia's fifth-largest coal miner -- has generated strong interest as it is rare for controlling stakes in Indonesian energy firms to be put on the market. The stake offers a steady supply of quality Indonesian thermal coal.
Berau, which has a 1,200 square km (460 sq mile) concession area in East Kalimantan province, produced 13.2 million tonnes of coal in 2008 and aims for production of about 15 million tonnes this year. It sees 2010 output rising 16 percent.
Berau is a joint venture between Tritunggal, Dutch firm dan Rognar Holding B.V. and Japanese firm Sojitz Corp, with Rognar and Sojitz owning 39 percent and 10 percent stakes.
Source: Reuters
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Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- SMG Consultants - Indonesia
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- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
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- GN Power Mariveles Coal Plant, Philippines
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- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
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- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
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- The State Trading Corporation of India Ltd
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- CNBM International Corporation - China
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- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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- Sical Logistics Limited - India
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- London Commodity Brokers - England
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- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
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- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
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- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
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- Electricity Authority, New Zealand
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- Larsen & Toubro Limited - India
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- Chamber of Mines of South Africa
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- Commonwealth Bank - Australia
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- Straits Asia Resources Limited - Singapore
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- Georgia Ports Authority, United States
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- Orica Australia Pty. Ltd.
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- Trasteel International SA, Italy
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- Toyota Tsusho Corporation, Japan
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
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- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
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