Linc Energy revealed yesterday it had ended talks over the sale of its Queensland coal assets with China's Yanzhou Coal Mining after the two sides failed to agree a deal.
Peter Bond, chief executive of Linc, the Australian energy group, said negotiations over the assets were taking far too long, undermining confidence in the sale process.
Linc has hired UBS to start a formal sale process of its Emerald, Galilee and Pentland coal tenements in Queensland, which analysts have estimated could be worth in excess of A$1bn (US$800m).
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