State-run miner Coal India (CIL) will hire merchant bankers to carry out due financial diligence for acquiring equity stakes in identified mines and companies in Australia as part of its plan to meet the growing dry fuel demand in the country. In a notice inviting proposals from investment bankers, CIL said it has identified coal assets in Australia for acquiring equity stakes along with offtake rights in an asset or a company.
“CIL intends to avail the services of internationally reputed merchant banker/investment banker to carry out financial due diligence and render transaction advisory services with respect acquisition of stakes along with offtake rights in a coal asset in Australia held by a company
