Deals
Banpu Agrees to Acquire Hunnu Coal in A$477 Million Deal
This article is for subscribers only.
Banpu Plc, Thailand’s biggest coal producer, agreed to buy the shares it doesn’t already own in Hunnu Coal Ltd., valuing the Australian explorer seeking to develop mines in Mongolia at A$477 million ($493 million).
Banpu, which owns about 12 percent of Hunnu Coal, is offering A$1.80 cash for each share, the Bangkok-based company said today in a statement. That’s 30 percent more than the Sept. 8 close of the Perth-based company, whose board today unanimously recommended the bid.