May 29 (Reuters) - South32 Ltd S32.AX :
* SIGNED CONDITIONAL AGREEMENT WITH CHINA BAOWU STEEL GROUP UNIT TO ACQUIRE 50% INTEREST IN EAGLE DOWNS METALLURGICAL COAL PROJECT
* CONSIDERATION PAYABLE BY CO COMPRISES AN UPFRONT PAYMENT OF ABOUT US$106M UPON COMPLETION
* COAL PRICE LINKED PRODUCTION ROYALTY WILL ALSO BE PAYABLE AND IS CAPPED AT US$80 MILLION
* ACQUISITION TO BE FUNDED FROM THE GROUP'S CASH RESERVES