Peabody advised on sale of coking coal deposit
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.