Origo Partners is looking to sell Mongolia-focused coking coal company Gobi Coal and Energy for as much as $750 million, Reuters reported, citing news by Bloomberg. Origo Partners is a Beijing-based private equity firm. Gobi Coal, which was set up in 2004 to mainly produce and export coking coal to China, is also looking to go public in Toronto, according to Bloomberg.
(Reuters) – Origo Partners Plc , a Beijing-based private equity firm, is looking to sell Gobi Coal and Energy, a Mongolia-focused coking coal company it owns, for as much as $750 million, Bloomberg reported citing two people familiar with the matter.
Gobi Coal, which was set up in 2004 to mainly produce and export coking coal to China by 2011, is also looking to go public in Toronto, the people told Bloomberg.
The company has requested potential buyers to submit initial bids by mid-October, said one of the people, who asked not to be identified because the sale process is private, Bloomberg reported.
Origo could not immediately be reached for comment. (Reporting by Gowri Jayakumar in Bangalore; Editing by Jon Loades-Carter)