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BRIEF-Yancoal Australia amends its agreement to acquire Coal & Allied

Published 20/06/2017, 07:35 pm
BRIEF-Yancoal Australia amends its agreement to acquire Coal & Allied

June 20 (Reuters) - Yancoal Australia Ltd YAL.AX

* Amended its sale and purchase agreement to acquire 100% of shares in Coal & Allied by accelerating payment of us$500 million deferred payments

* Yankuang has agreed to provide financial assurances to Rio Tinto (LON:RIO) in support of Yancoal transaction

* US$500 million of deferred payments will now be paid on completion of cna transaction

* Yancoal has agreed to waive its 'material adverse change' termination rights and nsw government approval condition precedent

* Yancoal intends to finance cna transaction through a capital raising

* Yankuang group member will provide a deposit of us$100 million pending completion of cna transaction

* US$500 million of deferred payments will now be paid on completion of cna transaction, increasing total amount payable by co on completion to US$2.45 billion Source text for Eikon: ID:nASX5p4J8n Further company coverage: YAL.AX

(bangalore.newsroom@thomsonreuters.com)

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