CIC Energy to unveil Mmamabula suitors

From the May 31 collapse of takeover negotiations with JSW Energy of India to date, CIC Energy has only broken its silence twice - once to announce the date of its annual general meeting (AGM) and the subsequent results, and again to release its second quarter results.

With the six months window within which JSW Energy is entitled to match any new offers for CIC Energy due to elapse tomorrow, all eyes are on who could be in the running for the lucrative Mmamabula project. Yesterday, the local market - in which CIC Energy has a secondary listing - was abuzz with analysts pointing towards the likelihood of new suitors being unveiled for the Mmamabula project. Players tipped by analysts since May include Anglo Coal, which has ready markets for high quality product, an Indian energy firm and GMR Energy Limited, which recently acquired a stake in an Indonesian coal mine.