SYDNEY - Hong Kong-based commodities firm Noble Group is nearing a deal to sell stakes in some Australian coal assets to its majority-owned Australian coal miner Gloucester Coal , sources said on Monday.
'There have been some pretty tough negotiations (between Noble and Gloucester),' a source familiar with the transaction said, confirming a deal was close but declining to give details.
A second source said one of the expected transactions involved Donaldson Coal Pty Ltd.
Gloucester shares were placed in a trading halt earlier on Monday ahead of an announcement about two acquisitions and a capital raising.
Noble Group has been widely expected to sell its 100 per cent-owned Donaldson Coal Pty Ltd, which has coal mines in the Hunter Valley in New South Wales state, to Gloucester.
A Noble spokesman declined to comment. -- REUTERS
A Chasing Sunsets Fund – A Better Way to Plan Nice-to-Haves in Financial
Independence.
-
One of the spending needs that many of you would consider as part of the
income needs for your financial independence (FI) or FIRE, is to have
enough mon...
1 month ago
No comments:
Post a Comment