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JSW Steel, Aditya Birla and Jindal Steel shortlisted to bid for Bandanna Energy

23 May 2011 Evaluate

Three Indian firms -- Aditya Birla, JSW Steel, and Jindal Steel and Power are among the firms shortlisted to bid for Australian coal explorer Bandanna Energy as part of a billion-dollar-plus sale. Various Indian companies are eying to secure overseas coal supplies to fuel their power plants in India. Bandanna is expected to get $853 million from this deal.

Bandanna Energy, which holds coal exploration permits in the Bowen and Galilee basins in the northeast Australian state of Queensland, has been advised by UBS to sell some or all of its assets to fulfill its funding requirements.

Peers
Company Name CMP
JSW Steel 1230.00
Tata Steel 179.10
Steel Authority 174.00
Jindal Stainless 732.40
APL Apollo Tubes 2119.90
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