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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
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