RIV 0.00% $16.20 riversdale mining limited

icvl of india will top rio's $3.9 billion bid

  1. 987 Posts.
    Good luck to all RIV long-term holders!

    ICVL of India Will Top Rio's $3.9 Billion Riversdale Offer, Chairman Says

    By Pradipta Mukherjee and Rajesh Kumar Singh - Jan 22, 2011 10:31 PM GMT+1100

    India?s government plans to offer more than Rio Tinto Group?s A$3.9 billion ($3.9 billion) bid to buy Australia?s Riversdale Mining Ltd., Chairman C.S. Verma said.

    International Coal Ventures Ltd., a group of Indian state- run metal and energy companies, will decide on a price for the Sydney-based coal company with mines in Mozambique at a board meeting in New Delhi on Jan. 27, Verma said in an interview in Kolkata today.

    Rio Tinto, which offered A$16 a share, said yesterday it received unconditional approval from the Australian Treasurer to buy Riversdale.

    To contact the editor responsible for this story: Margo Towie at [email protected]

 
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