Yanzhou Coal Mining Company’s $3.5 billion acquisition of Felix Resources

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Yanzhou Coal became the first Chinese state-owned enterprise to acquire 100% of an Australian listed company through the A$3.5 billion acquisition of Felix Resources.

The deal featured an innovative undertaking whereby Yanzhou Coal would list Yancoal Australia on the Australian Securities Exchange by no later than the end of 2012, thereby guaranteeing public ownership.

Corrs advised Yanzhou Coal on what was the biggest ever Chinese deal in the Australian coal sector at the time.

The implementation of the transaction involved managing disclosures on three key stock exchanges - ASX, Shanghai and Hong Kong. A tight timeframe of only four months was met, even though all documents had to be translated and there were significant language and cultural differences that the team had to overcome.