Linc eyes coal spin-off: report
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Linc Energy (LNC) chief executive officer Peter Bond is eyeing a spin-off of the group's coal business on the Singapore stock exchange early next year, perhaps within weeks of Linc's de-listing on the Australian stock exchange, also in favour of a Singapore listing, The Australian Financial Review reports.
According to the newspaper, Mr Bond is aiming to spin-off the business "very early" in 2014, unless the group instead decides on a trade sale.
“We have a couple of people still wanting to buy it as a trade sale,” Mr Bond told the AFR.
The newspaper reports Mr Bond believes Linc's acquisition of Rio Tinto's (RIO) Blair Athol mine in Queensland, in addition to rail and port access, near-term production in the Teresa coal venture in the Bowen Basin plus exploration permits made for an attractive portfolio of assets for a new player.
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