We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
 Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this year.
Finance Asia reported that, Recapital Advisers, an Indonesia-based investment firm, on Friday entered into a definitive agreement to acquire a majority stake in Berau Coal, according to a source, beating several strategic buyers who had shown interest in the Indonesian coal producer.
On the same day, Berau sent out an irrevocable 30-day notice to its bondholders to redeem $225 million of outstanding fixed-rate bonds in a move that will see the company clean up its balance sheet before the new owners take over. The bonds, which were issued in December 2006, will be redeemed at 104.688% of face value, which is in accordance with the original terms.
No financial details were revealed with regard to the acquisition, but media have previously suggested that the deal may value Berau at at least $1.3 billion -- a number sources have acknowledged isn't far off. The deal is expected to be finalised by year-end.
Unlisted Berau is the fifth largest producer of thermal coal in Indonesia with contracts to develop three coal mine areas in East Kalimantan covering total concession areas of 118,400 hectares. It is currently 51%-owned by Indonesian individual Rizal Risjat through his investment firm Armadian Tritunggal. Dutch firm dan Rognar Holding owns 39%, while 10% is in the hands of Sojitz Corp, a listed Japanese trading and investment company. The three firms own Berau as a joint venture. Recapital will initially buy Armadian's 51% stake but is also expected to take over the minority stakes owned by its two partners.
The company has been up for sale for the best part of this year after it failed to go public last year. The company was marketing an initial public offering to investors in August 2008, but the listing was called off when risk appetite among investors deteriorated rapidly as the financial crisis gathered pace. Berau needs fresh capital to expand operations at its existing three mines. The company produced 13.2 million tonnes of coal in 2008 and aims to produce 15 million tonnes this year. It has earlier said that it plans to raise its annual production capacity to 20 million tonnes from 15 million tonnes today.
China's Huaneng Power, Indonesia's Indika Energy and Thailand's top coal miner Banpu are among the companies that are believed to have submitted bids for Berau, while mining giants Xstrata and Peabody Energy also showed interest early on.
The shareholders of Berau Coal are being advised on the sale by Bank of America Merrill Lynch, Deutsche Bank and PacBridge Capital Partners, an advisory firm run by former Merrill Lynch banker Sheldon Trainor. Recapital is advised by Credit Suisse.
Merrill (and Trainor) also arranged a $279 million buyout of Berau in August 2006 that cleaned up a messy ownership structure. The buyout saw Rizal Risjat, who previously held 9.3%, secure a majority stake in the company, while other owners were able to exit. The US investment bank was also mandated on last year's aborted IPO and acted as the sole bookrunner for the coal miner's $325 million dual-tranche bond in December 2006, which included the fixed-rate tranche that is now being redeemed.
The acquisition agreement comes at a time when there has been a lot of international interest in Indonesian coal companies. In September, Chinese sovereign wealth fund China Investment Corporation (CIC) invested $1.9 billion in high-yield debt issued by Indonesia's largest coal miner Bumi Resources. The investment is said to be accompanied by a plan for the two parties to cooperate on other acquisitions.
And, in early November, private equity firm Northstar Pacific Partners, which is backed by Texas-based TPG Capital and Government of Singapore Investment Corp among others, secured a 40% stake in the country's second largest coal mining contractor, Bukit Makmur Mandiri Utama, better known as Buma. The acquisition was done through Jakarta-listed shell-company Delta Dunia Makmur and involved a backdoor listing of Buma.
Source: Finance Asia
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
|
|
|
Showing 6246 to 6250 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
|
| |
| |
|
