26.05.2011 - India's Birla Group bets on commodities to fire growth
It had all the makings of Aditya Birla group's fourth acquisition in five months in commodities. Until Australian miner Whitehaven scrapped a plan to sell the business as attractive valuations weren't coming its way. But it didn't take too long for chairman Kumar Mangalam Birla to spot another opportunity for inorganic growth in the business of coal mines. The $30-billion metals-to-telecom conglomerate is one among three Indian business groups to be shortlisted for a second round of bidding for the coal mines of Bandanna Energy in Australia..............................................Full Article: Source
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