India’s Tata Power Co. has been selected as one of the bidders for a 30 percent stake in a coal unit owned by Indonesia’s Sinar Mas Group, the Wall Street Journal reported today, citing two unidentified people.
Sinar Mas is seeking $300 million for the stake, according to the report. As many as seven companies, including two or three from India, have been shortlised to bid, the Journal said.
Banmali Agrawala, Tata Power’s executive director of business development, declined to comment on the report when reached by telephone.
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