Straits Resources Limited has reportedly agreed to sell off its coal assets to Thailand energy PTT firm for AUD 544.1 million. The market had been waiting for SRL’s planned demerger where it would split its Indonesian coal assets from its metal assets into two companies while keeping both within its current corporate structure.

Recently, PTT announced that it would acquire all of Straits coal assets and is slated to finalize the takeover by the end of February. Under the arrangement, the demerger will proceed with the metal assets now to be transferred to new Straits entity MetalsCo. PTT has a 40% stake in PTT Asia with Straits holding the remaining 60%.

(Sourced from Coal Portal.com)