The transaction will make Yancoal Australia’s largest pure-play coal producer
Yancoal said it has entered into a binding agreement with Rio Tinto to acquire 100% of Coal and Allied. However, the transaction is subject to a number of closing conditions, including Rio Tinto shareholder approval, Yanzhou Coal Mining shareholder approval and various regulatory approvals. Yanzhou is Yancoal’s majority shareholder.
Yancoal’s legal advisors for the transaction are Herbert Smith Freehills.
Coal & Allied owns and operates the Hunter Valley Operations and Mt Thorley Warkworth coal mines in the Hunter Valley region of New South Wales.
Should the transaction push through, Yancoal’s coal production will more than double, transforming it into Australia’s largest pure-play coal producer. The transaction is expected to complete in the third quarter of 2017.
The law firm’s team is led by corporate advisory partner Costas Condoleon and is supported by lawyers Kevin Ko and Annabel Humphreys, with specialist input from energy and resources partner Chris Flynn.
Gilbert + Tobin also advised on a 162km railway deal between Balla Balla Infrastructure and the Government of Western Australia crucial to a proposed $5.6bn iron ore project in Pilbara, Western Australia.
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