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Monday, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM


STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.

The transaction will give PTT International – Thailand’s largest energy group - a 28.26 per cent interest in Straits’ Singapore-listed coal subsidiary Straits Asia Resources, which operates the assets, according to a document lodged on the Singapore Stock Exchange website.

Straits has been conducting a strategic review of its 47.1 per cent holding in Straits Asia since receiving a number of unsolicited expressions of interest for the stake.

The transaction will dilute Straits interest in Straits Asia to 18.84 per cent.

Straits Asia operates the Sebuku and Jembayan thermal coal mines in Indonesia, and holds an interest in a coking coal exploration concession in central Kalimantan. To read more click
The Australian



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