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Coal India May Buy Indonesian Mines For $1B

Coal India is seeking to acquire a stake in Indonesia’s Golden Energy Mines.

Coal India is seeking to acquire a stake in Indonesia’s Golden Energy Mines, The Wall Street Journal reports. The coal producer is in advanced talks to buy up to 40% of the Indonesian company for about $1 billion, adds Reuters.

The Indonesian company is a wholly owned subsidiary of Jakarta-based Dian Swastatika Sentosa. Currently, the state-run coal company is conducting a due diligence of Golden Energy.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

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