Berau Coal Energy to sell up to 20 pct stake -sources

PT Berau Coal Energy (BRAU),

Indonesia's No. 5 coal miner by output, plans to sell a 10 to
20 percent stake in a private placement this year, a deal
potentially worth $375 million, three sources with direct
knowledge of the matter said on Tuesday.

 Berau is in talks with Chinese, Indian, and Japanese
investors, one of the sources said, declining to name the
bidders. The sources declined to be identified because the plan
was not public.

"The plan by doing the placement is to reduce debt, but it
depends on market appetite," said another of the three sources.

Global miners, financial investors and Asian utilities are
keen to secure access to Indonesian thermal coal, which is used
in power plants. Indonesia is the world's top exporter of
thermal coal.

Berau was not immediately available for comment. Source: Reuters