Thyssen demurs in rail bid after price probe -paper

Thu Aug 18, 2011

FRANKFURT Aug 18 (Reuters) - Germany's biggest steelmaker ThyssenKrupp held off bidding for a German railway contract after it was subject to a price-fixing probe, a German newspaper reported, citing industry sources.

German authorities said in late June they were investigating 10 steel and rail companies, including ThyssenKrupp subsidiary GfT Gleistechnik GmBH, for operating a cartel between 2001 and 2008.

Thyssen normally buys rails for Deutsche Bahn tenders from competitors such as Voestalpine and ArcelorMittal , but supplies from these companies were "no longer available", forcing Thyssen to stay out of the bidding, the sources told financial daily Handelsblatt.

Handelsblatt calculated from cartel documents in its possession that damage claims linked to the case could total up to 1 billion euros ($1.4 billion), on top of any fines imposed by regulators.

Austrian metals group Voestalpine said in July it had blown the whistle on the scheme and said it expected to escape fines in the investigation. ($1=.7099 Euro)

India SAIL chair:to launch share sale by end-March

Thu Feb 3, 2011 12:36pm GMT

* Decision on banks to be taken early next week
* SAIL expected to retain all banks-sources

MUMBAI Feb 3 (Reuters) - State-run Steel Authority of India's (SAIL.BO: Quote) upto $1.9 billion share sale could be launched by end-March, after the steelmaker takes a final decision early next week on lead managers for the offer, its chairman said.
The government had issued notices last month to some of the shortlisted banks for the SAIL offering, asking if there was any conflict of interest, after they also managed rival Tata Steel's $770 million share sale.

"We discussed the legal position. We will be in a position to take a final decision by early next week," SAIL Chairman C.S. Verma told Reuters, after a meeting with government officials.
"We will still be able to launch the offer within this financial year."
The government will sell 5 percent in India's largest domestic steelmaker, which has an annual capacity of around 15 million tonnes. SAIL will issue new shares equal to 5 percent of its existing share capital, to fund expansions.
The government owns about 86 percent in the firm.
SAIL had earlier selected Deutsche Bank (DBKGn.DE: Quote), JP Morgan (JPM.N: Quote), HSBC (HSBA.L: Quote), SBI Capital, Enam Securities and Kotak Mahindra Capital to manage the share sale.

SBI, HSBC, Deutsche Bank and Kotak were also among the managers for the Tata Steel offer.
The state-run steelmaker is likely to retain all the banks for the share sale, two sources with direct knowledge of the matter told Reuters. (Reporting by Prashant Mehra and Sumeet Chatterjee; editing by Malini Menon, sourced:reuters)

Over 20 investment banks HSBC, Deutsche, Credit Suisse, Citi and more banks to pitch for Mongolian mine privatization

Tuesday, Feb1, 2011
Over 20 investment banks will next month submit written proposals for the privatisation of Mongolia's Tavan Tolgoi coal mines that could value it at up to $8 billion, The Independent on Jan 30 reported.
The newspaper said bankers from HSBC, Deutsche, Credit Suisse, Citi and Macquarie are among those who will present proposals to list the coal group in either Hong Kong, London or give it a dual listing.
It said presentations will be held between Feb 10 and 15 in the Mongolian capital Ulan Bator, with six banks expected to win roles in the flotation, expected by the first half of next year.
Tavan Tolgoi, which could become one of the world's largest coal mines, is owned by Mongolian government entity Erdenes MGL. (sourced:reuters)