Bloomberg: GVK said to be in talks to borrow $850m for Australia’s Hancock mines
Bloomberg reports on Thursday that GVK Power & Infrastructure, a builder of airports and utilities controlled by Indian billionaire GV Krishna Reddy, is in talks to borrow as much as $850m to fund the purchase of two Hancock Prospecting coal mines according to people with knowledge of the negotiations.
GVK will use the money to pay Hancock $500m for equity in the mines and another $350m as compensation for costs incurred by the Australian company for running them.
