China's Yanzhou Wants Full Control Over Aussie Coal Unit

Law360, New York (July 9, 2013, 3:55 PM EDT) -- China's state-owned Yanzhou Coal Mining Co. Ltd. is seeking to buy out minority investors' stakes in an Australian coal unit for an expected AU$180 million (US$163 million), it said late Monday, a move that could stoke regulators' concerns over fully passing off operations to a Chinese company.

Under its preliminary proposal, Yanzhou would gobble up the remaining 22 percent of Yancoal Australia Ltd. that it does not already own in exchange for 0.91 depository receipts per share. The consideration is equal to AU$0.91 a pop, a...
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