GVK Group said Australia's largest rail-freight company Aurizon has agreed to buy 51% in its Hancock Coal Infrastructure, which owns GVK Hancock's rail and port projects there, for an undisclosed sum. GVK had bought a 79% stake each in Alpha Coal and Alpha West Coal Mines, and a 100% stake in Kevin's Corner Coal Mines, in Queensland, Australia from Hancock Coal for $1.26 billion (about .`6,850 crore). Though GVK announced plans to investment at least $10 billion to develop its Australian assets, an over-stretched balance sheet has forced it look at selling stakes in its key assets.

Source - http://economictimes.indiatimes.com