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Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18’s Sajeet Manghat reports.
As part of its mega acquisition plans, ETHL Communication, the group’s holding company for telecom services, will make equity investments of nearly USD 1 billion in its Mauritius subsidiary, which would invest these proceeds for various group acquisitions. ETHL Communication had raised Rs 4,500 crore via a debenture issue in January 2010.
The company will use proceeds for acquisitions of coal, steel, telecom and refining assets. As part of its acquisition targets, Essar will:
— Acquire Shell’s refining assets for up to USD 975 million.
— Acquire 78.84% stake in a South African coal mining company for USD 150 million.
— Acquire 100% in an Indonesian company having rights to thermal exploration coal blocks for USD 110-120 million excluding USD 40 million capex.
— Acquire 100% in a UK company with coal assets for USD 330 million. The company has coal assets in Australia.
— Acquire 100% in a company owning metallurgical coal in the US for USD 225 million.
— Acquire at least 51% in telecoms in Uganda and Congo for up to USD 200 million.
Additionally, Essar plans to invest an additional USD 1 billion in its US subsidiary Essar Steel Minnesota to set up a new iron ore pellet plant. The group will also invest up to USD 500 million in setting up steel services centres globally.
The Essar Group has either signed term sheets or advance negotiations for these assets.
Source: Money Control
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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
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DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Sical Logistics Limited - India
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- Leighton Contractors Pty Ltd - Australia
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- Energy Link Ltd, New Zealand
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- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
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- Bangladesh Power Developement Board
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- CIMB Investment Bank - Malaysia
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- Heidelberg Cement - Germany
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- Indika Energy - Indonesia
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- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
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- GMR Energy Limited - India
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- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
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- Attock Cement Pakistan Limited
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- Edison Trading Spa - Italy
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- London Commodity Brokers - England
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- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
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- SMG Consultants - Indonesia
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- Savvy Resources Ltd - HongKong
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- Pendopo Energi Batubara - Indonesia
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- Tamil Nadu electricity Board
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- Coal and Oil Company - UAE
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- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
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- Makarim & Taira - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
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- New Zealand Coal & Carbon
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