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Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES


Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced a completion of mandatory cash offer for Indonesian coal miner PT Berau Coal Energy Tbk (BRAU).

Through the cash offer, Vallar has purchased a 9.7% stake or 3.39 billion of additional shares in Berau Coal at Rp540 (approx. US$ 0.0631949) a share or Rp1.83 trillion (approx. US$ 214,160,327) in cash.

The cash offer is following the earlier acquisition by Vallar of a 75% interest in Berau on April 8 2011. Accordingly, Vallar's total ownership in Berau as of June 15 2011 is 29.57 billion shares, representing approximately 84.7% of the issued share capital of Berau, says Insider Stories.

PT Bukit Mutiara, owned by Indonesians Rosan P. Roeslani and Sandiaga Uni, is still holding 7% in Berau Energy and other shareholders own 8.3%.



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Recent News

Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...


Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today. More than a half a dozen of Indian coal  t ...


Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...


Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...


Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...


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