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Allens/Corrs act on proposed acquisition of Felix
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Allens/Corrs act on proposed acquisition of Felix

Deal summary: Allens Arthur Robinson is acting for Felix Resources (Felix), the Queensland-based coal producer, in regards to its proposed acquisition by leadin

Deal summary:

Allens Arthur Robinson is acting for Felix Resources (Felix), the Queensland-based coal producer, in regards to its proposed acquisition by leading Chinese resource company Yanzhou Coal Mining Company Limited (Yanzhou). Subject to regulatory approvals, the transaction, valued at around $3.5 billion, is expected to be completed by the end of the year.

Key Players:

Allens Brisbane-based Corporate Partner Andrew Knox (pictured) is advising Felix on the transaction.

Corrs Chambers Westgarth are the advisors to Yanzhou Coal Mining Company.

Commentary:

According to Knox, the transaction between Felix and Yanzhou reflects a growing trend of overseas organisations seeking to invest in Australia.

"Queensland can expect to see more inbound investment in the resources area in particular,' he said.

"We have had a significant amount of interest from inbound investors as to potential opportunities. A few years ago we were working with Australian clients investing into China and elsewhere across Asia. While that continues, it is fair to say that the legal work has shifted from outbound to inbound investment.

"Yanzhou has highlighted that they intend to increase investment in existing mines and undertake further exploration projects. You are seeing a significant amount of economic inter-connection between Queensland, Australia and Asia and that is set to accelerate."

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