GVK seeks PE investors in Australia coal assets
GVK is in talks with several global financial institutions, including private equity firms, with a view to selling minority stakes in Australian mining assets it recently acquired from Hancock for $1.3 billion. The Indian infrastructure group needs to raise funds to develop three mines and also complete a port and rail project that came as part of the Hancock deal, The Financial Times reported.
GVK bought a 79% stake in the Alpha and Alpha West projects based in Abbot Point in Queensland's Galilee Basin, which have the capacity to produce 85 million tons of coal per year, according to Sanjay...
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