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Report: Glencore's A$1B GRail receives bids from 3 major coal carriers

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Report: Glencore's A$1B GRail receives bids from 3 major coal carriers

GlencorePlc's A$1 billion Hunter Valley coal train network receivedseparate bids during the July 11 auction from major coal carriers AurizonHoldings Ltd., Asciano Ltd.'s Pacific National and U.S.-listed Genesee &Wyoming Inc., The Australian FinancialReview's Street Talk reportedJuly 12, citing sources.

Infrastructure players Morgan Stanley Infrastructure andMacquarie Group's Macquarie Infrastructure and Real Assets also made separateoffers.

The mining heavyweight's GRail coal haulage business wasbuilt in 2010 and was designed to carry up to 40 million tonnes of coal fromthe company's mines to the Port of Newcastle in New South Wales, Australia.Glencore is expected to guarantee volumes to the new buyer for a minimum of 15years.

Glencore is expected to shortlist parties and open asecond-stage data room in the next two weeks, according to the report.