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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 agreement (CSPA) to acquire a 30 percent stake in PT Golden Energy Mines, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) on 11 August 2011.
This transaction is subject to the fulfillment of several conditions and is expected to close in calendar 2011, including but not limited to the approvals of the general meeting of the shareholders and the listing of GEMS’s shares in the Indonesian Stock Exchange, said Hermawan Tarjono, corporate secretary of DSSA, when interviewed by COALspot.com.
The acquisition value is in the range of USD 450 million to USD 550 million. The value can be anticipated only while nearing to the transaction closing. The transaction will be closed once the GEMS’s shares are listed in Indonesian stock exchange and the IPO which is expected around fourth quarter of the year. The 30% share purchase will be done by combination of strategic sale and IPO purchase which is under negotiation, according to Hermawan Tarjono.
Once the transaction is closed, GMR will participate in the GEMS’s Management as the GEMS is proliferating and becomes more professionally managed, he added.
GEMS, a subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA), owns four producing and six non-producing thermal coal concessions in Sumatra, South Kalimantan and Central Kalimantan.
GEMS is targeting to produce 6-8 million tonnes of coal this year
GMR Infrastructure Ltd has already invested in a coal mine located in South Sumatra. The company brought PT Barasentosa Lestari (PT BSL) early 2009 for around US$ 80 million. The mine is estimate to have reserves of 100 million tonnes.
To contact the reporter responsible on this story - Efendi at efendi@coalspot.com
Translated by - WB
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Posco Energy - South Korea
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- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
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- Mjunction Services Limited - India
- McConnell Dowell - Australia
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- Metalloyd Limited - United Kingdom
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- The Treasury - Australian Government
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- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
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- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- PNOC Exploration Corporation - Philippines
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- Coastal Gujarat Power Limited - India
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- Coalindo Energy - Indonesia
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- Trasteel International SA, Italy
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- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
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- Africa Commodities Group - South Africa
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- Singapore Mercantile Exchange
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- Cement Manufacturers Association - India
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- Sakthi Sugars Limited - India
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- Parliament of New Zealand
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- Electricity Authority, New Zealand
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- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
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