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Czech Tycoon’s Takeover of Sydney-Listed Coal Miner Falls Through

25 Jun 2024

 

The owner of a majority stake in Sydney-listed metallurgical coal producer Coronado Global Resources Inc. terminated its sale to Czech tycoon Pavel Tykac’s Sev.en Global Investments.

The Energy & Minerals Group said on Tuesday it wouldn’t proceed with the sale of its 51% stake after conditions in a September agreement, including approval by Australia’s Foreign Investment Review Board, hadn’t been met by a June 22 deadline.