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Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
 Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” or the “Company”) is pleased to announce that as a follow up to our announcement dated 7 October 2011, the Company and another Bakrie related entity, Long Haul Holdings (“LHH” - collectively known as “Bakrie Group”), has embarked on a strategic partnership with PT Borneo Lumbung Energi & Metal Tbk (“BORN”) with the signing of a Sales and Purchase Agreement (“SPA”) which took place in Jakarta on 31 October 2011.
Under the terms of the SPA and upon completion of the transaction, Bakrie Group and BORN will own indirectly 47.6% shareholding in London listed Bumi plc, which in return owns direct and indirect investments in PT Bumi Resources Tbk, PT Berau Coal Energy Tbk and PT Bumi Resources Minerals Tbk.
The transaction is valued at USD 1 billion which values Bumi plc’s shares at approximately GBP10.91 at the date of announcement, representing a premium of:
• Approximately 46% to the closing price of Bumi plc’s shares on the LSE on 28 October 2011 and approximately 45% premium to the last 20-day volumeweighted average trading price of Bumi plc’s shares.
• Approximately 5% premium to the last 6 month volume-weighted average trading price of approximately GBP10.34
The consideration will be payable in cash and Bakrie Group will use the proceeds from the transaction to pay down a financing facility initially coordinated by CS (“CS Loan”), therefore reducing BNBR’s overall debt position considerably.
Bakrie Group expects to complete the transaction on or around the end of December 2011 following BORN shareholders approving the transaction and satisfaction of regulatory and other approvals.
“This transaction is another important step forward for the Company as it enhances our objectives for the creation of an “Indonesia Inc.” in an international mining company. The deleveraging aspect of this transaction is also important as it provides BNBR with a healthier and stronger balance sheet. Furthermore, we have again demonstrated our commitment to meet our creditors’ obligations and highly appreciate their support towards BNBR especially during these volatile market conditions,” said Bobby Gafur Umar, President Director and CEO of BNBR.
BNBR will make appropriate disclosures upon completion of all relevant documentation and approvals.
Credit Suisse assisted BNBR in a financial advisory capacity
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Bhatia International Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
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