Deals
Adani Buys Linc Energy’s Coal Asset for A$3 Billion
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Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy a coal asset in Australia for A$3 billion ($2.7 billion) from Linc Energy Ltd. as demand for the fuel increases.
Adani will pay A$500 million in cash and a royalty of $2 a ton for 20 years, or A$2.5 billion, Linc said today in a statement, describing the acquisition as the largest by an Indian company in Australia. The purchase will give full control of the Galilee coal tenement in Queensland, Adani Enterprises said in a separate release.