Yancoal Australia (ASX:YAL) rose nearly 2% in recent Monday trade after it said in a late Friday Australian bourse filing that unit Moolarben Coal Mines has entered an agreement to purchase an additional 3.8% stake in the Moolarben Joint Venture in New South Wales for AU$110.5 million.
The company's stake in the JV has increased to 98.8% from 95%, the filing said.
The deal is expected to be completed on Jan. 1, subject to the receipt of government approvals, consents, and waivers from third parties, the filing added.
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