Linc Energy Ltd., the Australian company studying a gas-to-liquids venture in Russia with billionaire Roman Abramovich, said it plans to raise money selling shares in a move to Singapore’s stock exchange and flagged its intention to buy coal assets.
Linc Energy Ltd. is looking to expand its partnership with Roman Abramovich, after announcing a deal today with the billionaire owner of Chelsea Football Club to evaluate a gas-to-liquids fuel development in Russia.
Linc Energy Ltd. , which converts coal into liquid fuels, is in talks with three to four groups to sell an Australian coal asset valued at more than A$500 million ($506 million), Chief Executive Officer Peter Bond said.
Linc Energy Ltd., an Australian company that bought oilfields in Texas from ERG Resources LLC, said it is studying two or three more deals in the Gulf coast region and may spend about $500 million on a single transaction.
Luxury resorts along Queensland’s coast, a destination for Great Barrier Reef visitors, are selling at a fraction of peak prices as a rising Australian dollar sends domestic vacationers overseas and hampers a recovery from last year’s hurricanes.
Linc Energy Ltd. , which sold an Australian coal asset for A$3 billion ($2.7 billion) in cash and royalties to Adani Enterprises Ltd. , will use the proceeds to fund expansions and may sell the royalty stream.