Yanzhou Coal Mining has reached an agreement with five existing shareholders of the Linshang Bank to acquire more than 317 million shares, representing an 8.75% stake in the latter, for CNY953m ($144.94m).

The shares issued as part of the transaction were each priced CNY3 ($0.46).

The acquirer company is engaged in coal production and distributes coal through railways, whereas the target company is a joint-stock commercial bank.

Both the companies involved in the transaction are based in China.

Linshang Bank has also entered an agreement with Yanzhou Coal Mining to issue 400 million shares to raise CNY1.2bn ($182.51m) in a private placement.

“LSC will pay $2m cash to the shareholders of Alqa in three instalments as purchase consideration for the transaction.”

LSC Lithium has entered an agreement with Alqa Lithium to purchase the entire issued and outstanding shares of the latter.

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By GlobalData

LSC will pay $2m cash to the shareholders of Alqa in three instalments as purchase consideration for the transaction.

The acquirer company is a Canadian lithium exploration company, while the target company fully owns the Mina Teresa project located in the Salar de Salinas Grandes in Argentina.

South Africa-based Universal Coal Development IV has acquired a 100% stake in Manyeka Coal Mines Proprietary from Exxaro Coal Central Proprietary for ZAR90m ($6.34m).

Universal Coal Development IV and Manyeka Coal Mines are engaged in coal mining business.

UCDIV proposes to fund the acquisition through internally generated cash flows from the New Clydesdale Colliery (NCC), in which UCDIV is the 100% beneficial owner.