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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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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- The University of Queensland
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Anglo American - United Kingdom
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