Golden Energy, controlled by Indonesia’s Widjaja family, owns a 70% stake in GEAR M Illawarra Met Coal, while M Resources holds the remaining 30%. It was privatised from a listing on the Singapore Exchange (SGX:S68
) last September.
A consortium led by Golden Energy and Resources (SGX:AUE) is sounding out private credit funds and banks to gauge interest in financing its US$1.65 billion acquisition of a coal mine in Australia, according to people familiar with the matter.
The acquiring entity, GEAR M Illawarra Met Coal, has mandated Grant Samuel as an adviser in its fundraising talks for the deal to acquire Illawarra Metallurgical Coal from Australia-based South32, said the people who asked not to be identified as the talks are private.
