Yancoal to Buy 80 Percent Stake in Kestrel Mine for $2.4B

YANCOAL AUSTRALIA LTD has reached a definitive agreement to acquire an 80% stake in the Kestrel coking coal mine for a total consideration of up to $2.4 billion. The transaction, announced on Tuesday, is set to significantly expand the company's footprint in Australia and solidify its standing as one of the nation's largest coal producers.

The majority interest is being purchased from the private equity firm EMR Capital and ALAMTRI RESOURCES INDONESIA, a firm headquartered in Indonesia. Upon completion of the deal, the remaining 20% stake in the underground operation will continue to be held by the Japan-based trading giant MITSUI & CO LTD.