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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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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
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Thursday, 22 December 22
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Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
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Thursday, 22 December 22
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Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Ministry of Finance - Indonesia
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- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
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- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
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- Ministry of Transport, Egypt
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- ICICI Bank Limited - India
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- Indian Oil Corporation Limited
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- MS Steel International - UAE
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- McConnell Dowell - Australia
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- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
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- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
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- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
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- The University of Queensland
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- Therma Luzon, Inc, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Thai Mozambique Logistica
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- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
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- Tamil Nadu electricity Board
- The Treasury - Australian Government
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- Altura Mining Limited, Indonesia
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- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
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- GAC Shipping (India) Pvt Ltd
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- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
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- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
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