[SMM Coal Flash] STLL Acquires Advent Coal, Sainik Mining for INR 9.23 Billion
India’s Sindhu Trade Links Limited (STLL) has acquired controlling stakes in Advent Coal Resources Pte Ltd and Sainik Mining and Allied Services Ltd (SMASL) for a total consideration of INR 9.23 billion.
STLL acquired a 78.26% stake in Advent Coal for INR 6.97 billion and a 50.10% stake in SMASL for INR 2.25 billion. Advent Coal owns 100% of the economic interest in a 620 million-tonne coal resource project in East Kalimantan, Indonesia, which includes a 130-km logistics corridor connecting the mine to a deep-sea port and future industrial cluster.