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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.