Thai Energy Co. Enters $325M Asian Coal Market Deal

Law360, New York (March 27, 2009, 12:00 AM EDT) -- Securing its presence in the Asian coal mining market, Thai energy company PTT PLC has finalized a $325 million deal to buy a 60 percent stake in Straits Bulk & Industrial Pty, a subsidiary of Australian thermal coal miner Straits Resources Ltd.

The transaction is expected to be completed by the end of April, when the Thai government-controlled PTT will make an an upfront payment of $220 million as well as performance payments of up to $115 million, and it is part of PTT's long-term strategy...
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