Clayton Utz is advising SGX-listed Noble Group Limited on the sale of its 50.1 per cent shareholding in Idalia Coal Pty Ltd, held by Noble’s subsidiary Camvill Pty Ltd, to ASX-listed East Energy Resources Limited.
Clayton Utz Perth Corporate / M&A partner Matthew Johnson is the lead partner advising Noble on the transaction.
The remaining 49.9% shareholding in Idalia held by Majicyl Pty Ltd will also be sold to East Energy. Under the transaction, Noble and Idalia will be issued a total of $40 million worth of new East Energy shares in proportion to their respective shareholdings in Idalia. The transaction values the new combined East Energy and Idalia entity at $73 million.
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