Rio Tinto Limited
(ASX:RIO) has confirmed that shareholders vote in favour of Yancoal Australia's
(ASX:YAL) revised purchase of its thermal coal company, Coal and Allied Industries (C&A).
It comes as Yancoal again sweetened its purchase agreement of Rio's Coal and Allied Industries (C&A).
The multinational mining giant says the offer from Yancoal Australia
(ASX:YAL) was further increased to $2.69 billion.
The firm says US$2.45 billion is payable in cash in full on completion, as well as a US$240 million payment, via unconditional guaranteed royalty payments, with US$200million of that being paid to Rio before the close of 2018.
In addition to that, Yancoal’s parent company, Yankuang, increased its break free amount from $100 million to $225 million.
Shares in Rio Tinto Limited
(ASX:RIO) last traded over 1.3 per cent higher to $59.57.
