Macarthur Coal Limited (Macarthur Coal), an independent Queensland-based coal mining company, has announced that it has entered into a Heads of Agreement with Noble Group Limited in Hong Kong for the sale of a 19.61 percent interest in the share capital of Monto Coal 2 Pty Ltd. The total value of the agreement is $48.5 billion.
Macarthur Coal is the parent company of Monto Coal 2 Pty Ltd, which has a share of 51 percent in the Monto Coal Joint Venture.
Macarthur Coal and Noble Group Limited plan to complete the transaction by the end of February 2008, subject to the satisfaction of several conditions precedent.