June 20, 2017 / 9:36 AM / a month ago

BRIEF-Yancoal Australia amends its agreement to acquire Coal & Allied

1 Min Read

June 20 (Reuters) - Yancoal Australia Ltd

* Amended its sale and purchase agreement to acquire 100% of shares in Coal & Allied by accelerating payment of us$500 million deferred payments

* Yankuang has agreed to provide financial assurances to Rio Tinto in support of Yancoal transaction

* ‍US$500 million of deferred payments will now be paid on completion of cna transaction

* Yancoal has agreed to waive its 'material adverse change' termination rights and nsw government approval condition precedent

* Yancoal intends to finance cna transaction through a capital raising

* ‍Yankuang group member will provide a deposit of us$100 million pending completion of cna transaction​

* US$500 million of deferred payments will now be paid on completion of cna transaction, increasing total amount payable by co on completion to US$2.45 billion Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below