RIO rio tinto limited

News: RIO Yancoal Australia further amends its agreement to acquire Coal & Allied

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    June 26 (Reuters) - Yancoal Australia Ltd (YAL)

    • Has further amended its sale and purchase agreement to acquire 100 pct of Coal & Allied Industries associated royalty arrangements
    • Deal has additional value of $US240 million via updated royalty payments across five years
    • Purchase price remains US$2.45 billion, payable in full on completion
    • Yankuang has also increased its financial support in relation to deposit arrangements in support of transaction
    • Yankuang will now provide a US$125 million bank guarantee towards deposit arrangements, in addition to US$100 million deposit
    • Yancoal has obtained New South Wales Government approvals required for transaction
 
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