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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Capital to advise
Reuters world's largest international multimedia news agency reported that, Indonesian diversified company PT Delta Dunia Petroindo Tbk said on Thursday it has reached an agreement to buy a coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA) for $550 million.
The owners of BUMA had put the company up for sale in May to private equity firms in Asia after failing to sell it in late 2007, sources familiar with the deal said
Mining services companies are struggling with costs amid slowing growth and slumping metal prices, making them ripe for takeovers, industry analysts said.
The sale was in line with a strategy "to increase shareholder value, and to grow revenue through a new mining and contractor platform, leveraging the ripe coal market opportunities in Indonesia," the firm said in a statement.
The firm said the transaction should be completed in the fourth quarter 2009, subject to obtaining shareholder and regulatory approval.
Newspaper Bisnis Indonesia has reported that local private equity group Northstar Pacific had purchased BUMA and that it could be listed through a backdoor listing after the purchase.
Gunawan Angkawibawa, a director at Delta Dunia, declined to comment on whether Northstar Pacific had a role in BUMA's purchase.
Delta Dunia has appointed Barclays Capital to advise on arranging the financing related to the acquisition.
Indonesia, the world's top thermal coal exporter, is expected to produce about 240 million tonnes of coal this year, slightly up from 238 million tonnes last year.
Source:Reuters
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
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- Ministry of Finance - Indonesia
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- Electricity Authority, New Zealand
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- Romanian Commodities Exchange
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- Singapore Mercantile Exchange
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- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
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- LBH Netherlands Bv - Netherlands
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- Meralco Power Generation, Philippines
- Australian Coal Association
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- Parliament of New Zealand
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- PTC India Limited - India
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- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
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- Xindia Steels Limited - India
- Chamber of Mines of South Africa
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- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
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- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
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- Minerals Council of Australia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
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- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
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- Borneo Indobara - Indonesia
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- Mjunction Services Limited - India
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- Economic Council, Georgia
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- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
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- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
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- White Energy Company Limited
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- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
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- Eastern Energy - Thailand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
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- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
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- Alfred C Toepfer International GmbH - Germany
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