possible change of control, page-2

By a staff reporter, with Reuters

Africa-focused Riversdale Mining has been placed in a trading halt ahead of an announcement from the miner regarding a possible control transaction.

Riversdale said earlier this month it was in talks with Rio Tinto about a takeover offer which would value the group at $3.5 billion and hinted it was also talking to other suitors.

International Coal Ventures (ICVL), a consortium of five Indian state-run companies including Steel Authority of India and NMDC, had been considering a bid for Riversdale.

The consortium of five Indian state-run firms plan to make a decision on bidding for Riversdale by the end of this month, a senior official of state-run iron ore miner NMDC has said.

Xstrata, Anglo American and Peabody Energy could also be interested. Top coking-coal exporter BHP Billiton is seen as a less likely contender, as it has its own growth options in Australia.