CITIC Resources plan to spend 10 billion dollars to buy Australian coal bed methane business

Reuters, Hong Kong, July 24 - - Hong Kong's South China Morning Post reported on Thursday that China's energy and commodities supplier - CITIC Resources (1205. HK) may bid 10 billion dollars to purchase the coal-bed methane assets of Australian energy producers and retailers- Origin Energy (ORG.AX).

The newspaper quoted from other sources that, Origin Energy provide its basic information to the investors who is interested in purchasing its coal bed methane assets and CITIC Resources is one of the interested buyers.

However, the report did not note how does CITIC Resources with a market value of only 2.31 billion dollars to deal with the financing of the transaction, while CITIC Resources have not responded yet.

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