Yancoal Australia Raises Stake in Moolarben

1 min read | March 28, 2020 01:31 PM AEDT | By Team Kalkine Media

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The wholly owned subsidiary of Yancoal Australia Ltd (ASX:YAL), Yancoal Moolarben Pty Ltd has entered into a binding agreement to purchase 10% stake in the Moolarben Coal Joint Venture for $300 million in completion and deferred cash payments.

The company views the proposed acquisition as a desirable opportunity to raise its participating interest in the Moolarben JV from 85% to 95%;
The $300 million cash consideration is payable in four instalments.

The YAL stock last traded at $2.070 per share, a decline of 1.429% compared to its previous closing price.

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