India's GVK Power and Infrastructure and Australia's Hancock Prospecting have extended the deadline yet again for exclusive talks on two Australian coal mines to the end of August as the two sides differ on valuation.

Two sources with direct knowledge of the matter said that GVK's negotiations for the roughly USD 1.3 billion deal with Hancock for the Alpha Coal and Kevin's Corner mines began in February. The two sides had already extended the deadline twice before.

Some analysts have expressed doubts whether GVK, which the market values at about USD 685 million, would be able to pull off such a large acquisition.

Sources said that GVK is expected to take loans from ICICI Bank, Standard Chartered and domestic public sector lender Bank of Baroda to finance the deal.

(Sourced from ET)