China, Indian companies eye Rio Australian coal assets

China’s state-owned Shenhua Group Corp Ltd and India’s Aditya Birla Group are among the companies considering bids for Rio Tinto’s Australian coal assets, which have an estimated value of US$3.2 billion (HK$24.8 billion), people familiar with the matter told Reuters.

The coal stakes are among a string of assets Rio is offloading as its new chief executive, Sam Walsh, seeks to raise funds to help cut the company’s US$26 billion in debt and protect its single-A credit rating.

via Business feed http://www.scmp.com/business/companies/article/1258297/china-indian-companies-eye-rio-australian-coal-assets