Gilbert + Tobin is advising Yancoal Australia’s Independent Board Committee (“IBC”) on the company’s US$2.45 billion (A$3.27 billion) acquisition of Coal & Allied Industries from Rio Tinto and the related capital raising
The transaction will see Yancoal more than double its coal production and transform it into Australia’s largest pure-play coal producer.
Yancoal intends to fund the transaction via a capital raising and pro-rata entitlement offer, the terms of which will be developed and determined by the IBC.
Yancoal currently operates seven mines with exploration assets and infrastructure shareholdings across NSW, Queensland and WA. This acquisition will see Coal & Allied’s export infrastructure and three large-scale, long-life and low-cost coal mines in the Hunter Valley join Yancoal’s extensive portfolio.
The team is being led by Corporate Advisory partner Costas Condoleon (Picture) and is supported by lawyers Kevin Ko and Annabel Humphreys, with specialist input from Energy & Resources partner Chris Flynn.
Law Firms: Gilbert + Tobin;
Clients: Yancoal Australia Ltd;