Linc Energy in talks with billionaire Abramovich: report Published 6:12 AM, 8 Nov 2012 Last update 6:12 AM, 8 Nov 2012 inShare
Queensland-based resource company Linc Energy may be reading to ink an investment deal with one of the world's wealthiest investors, Roman Abramovich, following a brief visit to Australia last weekend that saw Mr Abramovich tour Linc's coal gasification facilities after dinner with Linc Energy chief executive Peter Bond, according to The Australian Financial Review.
Talks between the two of fuelled speculation that Mr Abramovich — who made his fortune in the oil industry in the 1990s and currently owns Chelsea Football Club — may be planning to invest in Australia's resources sector or to use Linc's technology in Russia, the newspaper reported.
Linc Energy, which has a market capitalisation of about $310 million, has been in negotiations with several potential investors in an effort to grow its global business, according to the AFR.
Mr Abramovich also reportedly visited Perth during his three-day visit, and may be interested in moving back into the oil sector now that he has more recently been focused on steel and gold.
LNC Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
