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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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- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Planning Commission, India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
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