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Yanzhou offers to buy remainder of Yancoal, take private
July 9, 2013 / 12:00 AM / in 4 years

Yanzhou offers to buy remainder of Yancoal, take private

SYDNEY (Reuters) - China’s Yanzhou Coal Mining Company Ltd (600188.SS) on Tuesday offered to purchase the 22 percent of Yancoal Australia Ltd (YAL.AX) it does not already own in a deal valued at A$905 million ($825.95 million).

Yanzhou would take the company private if the A$0.91 per share offer, which is a 30 percent premium to Yancoal’s closing share price on Monday, is successful.

Yancoal was listed on the Australian stock exchange in June 2012 after a merger with Australia’s Gloucester Coal.

($1 = 1.0957 Australian dollars)

Reporting by Jackie Range; Editing by Stephen Coates

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