Czech-based investment group Sev.en Global Investments said it will acquire a 51% stake in Coronado Global Resources from the Energy & Minerals Group as it continues to expand its portfolio, reported Reuters.
The financial terms of the deal were not disclosed.
“We believe that Coronado has established a successful business strategy and we will support the company in continuation of its business strategy to grow and strengthen its position both in the U.S. and Australia,” said Sev.en Global Investments Chief Executive Alan Svoboda.
Coronado is one of the largest met coal producers globally, producing 16 million tonnes annually. It has mining operations and projects in the Bowen Basin in Queensland, Australia, and the Central Appalachian region of the United States.