Yanzhou Coal Mining has reached an agreement with five existing shareholders of the Linshang Bank to acquire more than 317 million shares, representing an 8.75% stake in the latter, for CNY953m ($144.94m).

The shares issued as part of the transaction were each priced CNY3 ($0.46).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The acquirer company is engaged in coal production and distributes coal through railways, whereas the target company is a joint-stock commercial bank.

Both the companies involved in the transaction are based in China.

Linshang Bank has also entered an agreement with Yanzhou Coal Mining to issue 400 million shares to raise CNY1.2bn ($182.51m) in a private placement.

“LSC will pay $2m cash to the shareholders of Alqa in three instalments as purchase consideration for the transaction.”

LSC Lithium has entered an agreement with Alqa Lithium to purchase the entire issued and outstanding shares of the latter.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

LSC will pay $2m cash to the shareholders of Alqa in three instalments as purchase consideration for the transaction.

The acquirer company is a Canadian lithium exploration company, while the target company fully owns the Mina Teresa project located in the Salar de Salinas Grandes in Argentina.

South Africa-based Universal Coal Development IV has acquired a 100% stake in Manyeka Coal Mines Proprietary from Exxaro Coal Central Proprietary for ZAR90m ($6.34m).

Universal Coal Development IV and Manyeka Coal Mines are engaged in coal mining business.

UCDIV proposes to fund the acquisition through internally generated cash flows from the New Clydesdale Colliery (NCC), in which UCDIV is the 100% beneficial owner.