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Peabody advised on sale of coking coal deposit

Peabody advised on sale of coking coal deposit

For sale

Peabody Australia has been advised in relation to its sale of the Wotonga South project to Stanmore Coal.

Firm: Corrs Chambers Westgarth (Peabody Australia); unknown (Stanmore Coal).

Deal: Peabody has agreed to sell the Wotonga South coking coal deposit to Stanmore Coal for $30 million in cash, plus a production-based royalty capped at around $10 million.

Value: $30 million.

Area: Energy, resources and projects.

Key players: The Corrs team was led by partner Bruce Adkins, who was assisted by special counsel Stuart Clague and graduate lawyer Caitlin McPhee.

Deal significance: “I am honoured to have acted for Peabody on their M&A transactions over a number of years, and delighted to have assisted them once again,” Mr Adkins said.

 

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