Banpu To Buy Out Hunnu Coal For $443M
Banpu is seeking to acquire the remaining stake in Australia-listed Hunnu Coal.
Banpu is seeking to acquire the remaining stake in Australia-listed Hunnu Coal, The Wall Street Journal reports. The Thai coal miner has offered to pay a total of about $443 million for the acquisition of Hunnu shares that it does not already own.
As a part of the deal, Banpu, which currently owns 12 percent in Hunnu, will pay $1.86 per share for the remaining stake. The acquisition will be financed through a combination of cash from reserves and credit facilities. JPMorgan Chase & Co. and Allen & Overy are advising Banpu on the deal, adds Bloomberg.
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