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Mercator eyes Indonesia mine buy, overseas IPO for unit

Published on Mon, Sep 19, 2011 at 13:25 |  Source : Reuters

Updated at Mon, Sep 19, 2011 at 13:58  

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Mercator eyes Indonesia mine buy, overseas IPO for unit

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Mercator Lines Ltd , India's second largest private shipping firm, expects to acquire a coal mine in Indonesia in the next one week for around USD 30 million and plans to list its coal division overseas, a top official said.

"The likely resources (of the new coal mine) are about 60 million tonne. The deal value will be roughly be in the region of USD 25-USD 30 million, Managing Director Atul Agarwal told Reuters on Monday.

  

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