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Coal India Ltd In Talks To Acquire 2 Australian Assets For $4 Billion-Reuters

Sunday, 16 Jun 2013 12:59pm EDT 

Reuters reported that according to The Economic Times Coal India Ltd (CIL) is seriously considering acquisition of two Australian companies for over $4 billion (about INR23,000 crore), a move that will enable it to import 28 million tonnes high quality thermal coal a year. CIL has sent the proposals to pick majority stakes for $2 billion each in the two companies, with annual output of 12 million tonnes and 16 million tonnes, respectively, to the Company's foreign acquisition committee. 

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