Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bandanna Says Number of Parties Remain in Strategic Review

Don't Miss Out —
Follow us on:

Oct. 10 (Bloomberg) -- Bandanna Energy Ltd., an Australian coal developer, remains in talks with potential parties for a possible sale of the company or its assets and has recently received approaches from new groups.

“Bandanna confirms that there remain a number of parties involved in the strategic review process and that requests from additional third parties to investigate potential joint venture, off-take, investment and other opportunities have also recently been received and the company is evaluating the opportunities,” the Brisbane-based company said today in a statement. An Oct. 7 report from Dow Jones Newswires that the company’s review had ended with no adequate offers is “baseless,” it said.

Bandanna, which owns coal projects in Queensland state’s Bowen and Galilee Basins, holds the largest power-station coal inventory for any exploration company in Australia, according to its website. It said in May that a shortlist of bidders has been selected.

Bandanna, which is being advised by UBS AG, rose 4.2 percent to 98.5 cents at 10:39 a.m. in Sydney trading, trimming losses since the start of the year to 29 percent.

To contact the reporter on this story: Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net

To contact the editor responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.