Yanzhou offers to take Yancoal private, deal to face scrutiny

China’s Yanzhou Coal Mining Company Ltd offered to buy the rest of the shares it does not own in Yancoal Australia for A$199 million (HK$1.4 billion), a deal which would give it control of additional coal supply at a time when a sharp decline in prices has made coal assets cheap.

But Yanzhou is expected to need the approval of Australia’s Foreign Investment Review Board, with one analyst noting that the proposal appears to run counter to the board’s requirements that it be run as an Australian company.

via Business feed http://www.scmp.com/business/companies/article/1278619/yanzhou-offers-take-yancoal-private-deal-face-scrutiny