BND 0.00% 8.4¢ bandanna energy limited

bandanna sale tempts amci and samtan: afr

  1. asf
    9,888 Posts.
    From this morning's AFR Street Talk column:

    Article says sale outcome is expected in first week of August with final bids due July 29.

    Aside from Indian parties, including Aditya Birla and Macquarie-adised NTPC, two further companies have become involved and may chuck their hat into the ring.

    Hans Mendes' company, AMCI group, a major BND shareholder, is considered to be weighing an offer for all or parts of the BND group (in the past, it said it would consider selling its holding for the right price).

    Separately, South korean listed energy group, Samchully's coal unit, Samtan, which holds 8.8% of BND, is contemplating a similar play.

    Also, a senior manager of US coal major Alpha Natural Resources has moved his family to Australia, so he can look for acquisitions here full time.

    BND and AMCI hold 1.2b tonnes of JORC-compliant coal resources in the South Galilee project.

    Looking sweet, holders. 8 days to go for bids. Current market cap = $918.4m, and bids <$1b hoiked.

    Good luck!
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