Yancoal (ASX:YAL) to acquire additional 10% stake in Moolarben

Company News

by Rachael Jones

Yancoal’s (ASX:YAL) wholly owned subsidiary, Yancoal Moolarben has entered into a binding agreement to buy a 10 per cent stake in the Moolarben Coal Joint Venture - currently owned by Sojitz Corporation.

This is for $300 million in completion and deferred cash payments.

This proposed acquisition increases its participating interest in the Moolarben JV from 85 per cent to 95 per cent.

Shares in Yancoal (ASX:YAL) opened flat at $2.07.