Author: Nishtha Mehrotra | EQMint
Sindhu Trade Links Ltd (STLL) has acquired controlling stakes in Advent Coal Resources Pte Ltd and Sainik Mining and Allied Services Ltd (SMASL) for a combined consideration of ₹922.50 crore, according to the company.
STLL acquired a 78.26% stake in Singapore-based Advent Coal Resources for ₹697.05 crore and a 50.10% stake in SMASL for ₹225.45 crore. The transactions were completed through share-based consideration, involving preferential equity shares and compulsorily convertible preference shares, respectively.
Advent Coal Resources holds an effective 100% economic interest in a 620-million-tonne coal resource in East Kalimantan, Indonesia. The project also includes a 130-km logistics corridor connecting the mine to a deep-sea port and a planned industrial cluster.
SMASL operates across mine development and operation (MDO), overburden removal, coal extraction and transportation. The company also has a 24-year MDO contract with NTPC for the Dulanga Coal Mines.
The acquisitions expand STLL’s interests across coal, mining, logistics and infrastructure, while increasing its presence in the Indonesian coal market.
Disclaimer: This article is for information purposes only and is not investment advice.
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