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Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough International Singapore Pte. Ltd. With an amount of US$83.8 million, Indika Energy has now own 81.95% stake in Petrosea.
In a press release sent to TAMBANG Magazine on 6 July 2009, Indika Energy stated that the close of this transaction would enable it to leverage Petrosea's capabilities in engineering construction, mine operation and offshore logistics. Furthermore, it would strengthen Petrosea's foothold in the energy sector in the areas of resource, services, and infrastructure.
With its strong financials fundamental and market leadership, Indika Energy is confident to provide Petrosea with a stronger position to realise its growth target and create satisfactory return on equity.
Arsjad Rasjid, President Director of Indika Energy, explained the next step they are going to take immediately. "The immediate next steps for us is for the two management teams to map out our growth plans based on our strategic intent. We will draw on each other's strengths, capabilities and expertise to grow, as well as conduct a gap analysis to identify and close the gaps of our weaker areas to strengthen our positions," he said.
The acquisition of Petrosea has previously gained approval from Indika Energy's shareholders, as well as from the regulators. Furthermore, Indika Energy would make the mandatory tender offer for shares held by minority shareholders, pursuant to the prevailing laws and regulations.
Source: Tambang
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Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
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- Eastern Energy - Thailand
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- Power Finance Corporation Ltd., India
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- Leighton Contractors Pty Ltd - Australia
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- Merrill Lynch Commodities Europe
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- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
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- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
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- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
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- Energy Development Corp, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
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- European Bulk Services B.V. - Netherlands
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- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- Interocean Group of Companies - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Medco Energi Mining Internasional
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- Commonwealth Bank - Australia
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