Coal India nears coking coal asset acquisition in Australia

On the lookout for acquisition of coking coal assets abroad, government-owned Coal India is in an advanced stage of talks with an Australian coal mining company based out of Queensland, where it plans to acquire substantial stake.

In this regard, Coal India had floated a closed tender for empanelled merchant bankers of which PwC and Ernst & Young have shown interest, to carry the transaction forward.

"The Australian company had asked us to revert after appointing a merchant banker and the tender to select one is in an advanced stage," a senior Coal India official told Business Standard. He said