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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Leighton Contractors Pty Ltd - Australia
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- Toyota Tsusho Corporation, Japan
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- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
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- Kobexindo Tractors - Indoneisa
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- Africa Commodities Group - South Africa
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- Sinarmas Energy and Mining - Indonesia
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- Tamil Nadu electricity Board
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- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Directorate Of Revenue Intelligence - India
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- Parliament of New Zealand
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- Independent Power Producers Association of India
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- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
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- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
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- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
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- Indian Oil Corporation Limited
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- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
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- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
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- Economic Council, Georgia
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- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
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- Banpu Public Company Limited - Thailand
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- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
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- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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