VCCircle

Coal Ventures International, a special purpose vehicle promoted by five state-owned corporations, has invited expressions of interest from global investment bankers to help the firm make acquisitions in metallurgical and thermal (boiler) coal assets overseas. The company, promoted by SAIL, Rashtiya Ispat, Coal India, NMDC and NTPC, is looking at acquisitions in Australia, Canada, the US, Indonesia, Mozambique, Zimbabwe, South Africa and others. CVIL has funds of $2.7 billion ($1.8 billion in debt and $900 million in equity) for making the acquisitions.
The selection of Investment/Merchant Bankers would be based on: a) Global foot prints and/or selected countries specific credentials; b) Adept at Mergers and Acquisitions, particularly of Coal assets; c) Recent/successful record of advising clients.
It will look at three routes of acquisitions: a) Strategic Investment in shares of listed coal companies producing or intending to produce metallurgical, PCI and steam coal anywhere in the world, but preferably in Australia, USA, Canada etc., b) Private equity deals with unlisted companies, partners, owners having coal assets in production or not in production any where in the world including South Africa, Mozambique, Zimbabwe, Indonesia etc., c) Acquiring/applying for Prospecting/Mining licenses to develop coal mines anywhere in the world

See the full details of EOI here. The last date for EOIs is January 30, 2008.