Private equity group AMCI is understood to have appointed UBS as...

Private equity group AMCI is understood to have appointed UBS as it goes through its options regarding its investments in local resources firm Aquila, The Australian Financial Review reports.

AMCI may increase its 7.2 per cent stake in local firm Aquila Resources, and could become the junior miner’s iron ore joint venture partner, the paper reports.

AMCI also has a half share in Aquila’s Pilbara iron ore assets in Western Australia.

The paper reports that the appointment of UBS by AMCI relates to a possible change in ownership structure at the iron ore venture.

According to the paper, the change in ownership may result in Aquila taking full ownership of the reserve or possibly being taken over by another party.