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