MELBOURNE May 10 U.S. private equity firm
Carlyle Group has submitted a bid for Anglo-Australian
miner Rio Tinto's 80 percent stake in the Northparkes
copper mine in Australia, Dow Jones reported on Friday, citing a
person familiar with the bid.
Macquarie, which is advising Rio Tinto on the sale, declined
to comment. A Carlyle executive and Rio Tinto spokesmen were not
immediately available for comment.
Northparkes is one of several assets that Rio Tinto plans to
sell as it looks to pare $5 billion in costs and focus on its
best assets to help protect its single-A credit rating in a
weakened commodities market.
Carlyle is the second private equity firm to be linked to
the Northparkes stake after it was earlier reported that KKR &
Co was looking to bid.
However, KKR is no longer in the running, two sources told