Czech tycoon’s takeover of Sydney-listed coal miner falls through
The owner of a majority stake in Sydney-listed metallurgical coal producer Coronado Global Resources terminated its sale to Czech tycoon Pavel Tykac’s Sev.en Global Investments.
The Energy and Minerals Group said on Tuesday it wouldn’t proceed with the sale of its 51% stake after conditions in a September agreement, including approval by Australia’s Foreign Investment Review Board, hadn’t been met by a June 22 deadline.
Sev.en in September cited expansion opportunities across Coronado’s coal portfolio in Australia and the US as reasons for the purchase. The Prague-based company didn’t immediately reply to an email outside local business hours on Tuesday.
The Energy and Minerals Group is a Houston-based private equity company with about $14-billion of assets under management. Coronado shares have fallen 35% since September 25, the day before the sales agreement was made public, to a market capitalization of about A$2-billion.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation