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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
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