China, Indian suitors said to eye bids for Rio Australia coal mines

PUBLISHED : Tuesday, 11 June, 2013, 10:00am
UPDATED : Tuesday, 11 June, 2013, 10:00am

China’s state-owned Shenhua Group  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, 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.