Whitehaven Coal (ASX:WHC) expands interest in Narrabri Mine
Whitehaven Coal (ASX:WHC) has completed the acquisition of EDF Trading Australia, which owns a 7.5 per cent interest in the Narrabri underground mine.
Closing the acquisition brings Whitehaven’s ownership interest in the mine to 77.5 per cent and triggers pre-emptive rights in favour of each of the Narrabri Joint Venture Participants, including Whitehaven.
The total consideration for the acquisition is US$72 million, with US$17 million having been paid on completion.
The remaining purchase price is payable on the completion anniversary date in equal instalments of US$11million over the next five years.
Shares in Whitehaven Coal (ASX:WHC) closed 2.7 per cent lower at $2.57.
Copyright 2020 – Finance News Network
Source: Finance News Network
