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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
 * COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
Reuters reported that, Recapital Advisors, an Indonesian investment firm, is nearing an agreement to buy Indonesian coal miner PT Berau Coal for at least $1.3 billion, according to sources familiar with the deal.
Recapital has received a verbal agreement that they are the winning bidder for Indonesia's fifth biggest coal miner, two sources told Reuters, adding the deal could be finalised by the end of the year. Under the deal, Recapital will buy a 51 percent stake from Armadian Tritunggal -- an investment firm controlled by Indonesian businessman Rizal Risjad -- which would trigger the sale of remaining shares in Berau, sources said.
"Yes we are bidding for Berau," Rosan P. Roeslani, president director of Recapital, told Reuters, without confirming that his firm was the winning bidder.
Indonesia is the world's biggest exporter of thermal coal and is a key supplier to North Asia, India and increasingly China. The sources said Recapital is backed by Indonesia's politically-connected Bakrie group, which also owns a big stake in coal miner Bumi Resources, though Roeslani said Recapital was not teaming up with the Bakrie group for the deal.
The sources declined to be identified because the deal was not public. Credit Suisse is advising Recapital, one of the sources said. The sale is being run by Deutsche Bank, Bank of America's Merrill Lynch, and former Merrill banker Sheldon Trainor's PacBridge Capital Partners. TWISTS AND TURNS The deal has seen many twists and turns since it was launched earlier this year. China's Huaneng Power and Indonesia's PT Indika Energy had also submitted bids, sources told Reuters in July.
Thailand's top coal miner Banpu may also have bid for the stake while mining giant Xstrata and Peabody Energy previously expressed interest. Sources said Berau -- Indonesia's fifth-largest coal miner -- has generated strong interest as it is rare for controlling stakes in Indonesian energy firms to be put on the market. The stake offers a steady supply of quality Indonesian thermal coal.
Berau, which has a 1,200 square km (460 sq mile) concession area in East Kalimantan province, produced 13.2 million tonnes of coal in 2008 and aims for production of about 15 million tonnes this year. It sees 2010 output rising 16 percent.
Berau is a joint venture between Tritunggal, Dutch firm dan Rognar Holding B.V. and Japanese firm Sojitz Corp, with Rognar and Sojitz owning 39 percent and 10 percent stakes.
Source: Reuters
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Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- Mercuria Energy - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
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- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
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- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- The University of Queensland
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- Electricity Generating Authority of Thailand
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- Singapore Mercantile Exchange
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- Petrochimia International Co. Ltd.- Taiwan
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- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
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- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
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- Minerals Council of Australia
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- Central Electricity Authority - India
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- GVK Power & Infra Limited - India
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- IEA Clean Coal Centre - UK
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- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
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- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
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- White Energy Company Limited
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- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
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- Orica Australia Pty. Ltd.
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- Ministry of Transport, Egypt
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- Merrill Lynch Commodities Europe
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- McConnell Dowell - Australia
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- Tata Chemicals Ltd - India
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- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
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- Indogreen Group - Indonesia
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- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
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- Economic Council, Georgia
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