KKR puts Aussie mining major Bis Industries on the block

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Global private equity firm KKR has put Sydney-based mining company Bis Industries up for sale, in a potential deal that is likely to fetch around A$1.8bn ($1.8bn) including debt.

The firm is understood to be facing a June 2013 deadline to repay A$905m in debt it used to finance the original buyout of the company in 2006, according to Reuters.

KKR has opened a data room for prospective buyers and has also been in talks with commercial banks to refinance the debt, the report said.

Bis Industries has operations in coal mining, steel and iron ore and provides a range of logistics and distribution services, the report added.

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