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

June 20 (Reuters) - Yancoal Australia Ltd (YAL)

• 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