Baker Reps Korea's SK Networks On $329M Coal Stock Buy

Law360, New York (March 12, 2012, 3:48 PM EDT) -- South Korea’s SK Networks will pay AU$313 million (US$329 million) to raise its stake in Australian miner Cockatoo Coal Ltd. to 40 percent, the companies said Monday.

SK Networks, the telecom and energy trading business of conglomerate SK Group, will also guarantee a proposed $157 million loan from the Korea Exchange Bank's Australian arm to Cockatoo, which has struggled in the past year to get out from under a heavy debt load. The deal is slated to close by June.

“The proposed placement puts Cockatoo in...
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