Yankuang Energy (01171): Yancoal Australia successfully completed the acquisition of 80% interest in the Kestrel Coal Mine

Zhitong Finance App News, Yankuang Energy (01171) announced that Yancoal Australia has successfully completed the transaction and acquisition announced on April 14, 2026 with EMR Capital AdvisorsPTY Ltd, Kestrel Coal (EMR) Limited, Adaro Capital Limited (ACL) (collectively known as the seller) and EMR Capital Management Limited on the date of this announcement 100% of Kestrel Group's shares, thereby indirectly obtaining 80% of Kestrel Coal Mine's interests (acquisition). Among them, the seller is the seller of Kestrel Group shares, and ACL and EMR Capital Management Limited are the sellers of Kestrel Group's share warrants. The Kestrel Coal Mine is a large metallurgical coal asset located in the Bowen Basin in Queensland, and has a long mining life.

The down payment in cash consideration of $1.85 billion upon completion of the acquisition was subject to customary closing adjustments, including deduction of the $40 million deposit already paid when signing the transaction documents, and other provisional adjustments to net debt and working capital at the time of completion. The consideration was funded by a combination of cash available from Yancoal Australia and the initial withdrawal of a five-year US$1.2 billion syndicated acquisition loan.

Whether contingent payments totaling up to $550 million are paid will still depend on whether the relevant benchmark coal price exceeds $225 per ton (nominal value) in any year within the first five years after completion of the acquisition.

Yancoal Australia will confirm its share of Kestrel production and economic benefits from October 1, 2026.