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.
British Airways parent International Consolidated Airlines Group SA agreed to sell the Scotland-based regional business of newly-acquired BMI for 8 million pounds ($13 million) to investors including the unit’s one-time head.
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.
Linc Energy Ltd. , the Australian company that converts coal into liquid fuels, requested its shares be halted from trading in Sydney pending an announcement on the sale of one of its coal assets in Queensland.