ET reported that Coal India Limited is learnt to have placed a bid for Colombian assets of US based Drummond Co as the PSU looks to buyout mines overseas as part of its INR 6,000 crore global acquisition plans.

A person in the know of the development said "The company had earlier this year placed a non binding bid for some coal assets in Colombia which belong to Drummond business family."

Some media reports suggested that Drummond Co has aimed to raise around USD 6 billion from sales of its assets in Colombia and had hired Bank of America MerrillLynch for advisory services.

(Sourced from Economic Times)