JSW Energy Said to Plan Bid for Canada’s CIC Energy

Bloomberg.com reports that Indian owned JSW Energy is looking to acquire Canadian CIC Energy(TSX:ELC) to bolster its’ coal assets in Africa.

The story is quoted as saying:

JSW Energy intends to make an offer this month after completing a review of CIC’s finances and assets, the people said, declining to be identified before an official announcement. CIC said in a statement on its website on Oct. 8 it had entered into exclusive talks to sell as much as a 100 percent stake to a multibillion-dollar group.

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