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Allens acts on proposed acquisition of Felix Resources

14 August 2009

Allens Arthur Robinson (Allens) is acting for Felix Resources (Felix), the Queensland-based coal producer, in regards to its proposed acquisition by leading Chinese resource company Yanzhou Coal Mining Company Limited (Yanzhou).

Allens Brisbane-based Corporate Partner Andrew Knox is advising Felix on the transaction.

According to Mr Knox, the transaction between Felix and Yanzhou reflects a growing trend of overseas organisations seeking to invest in Australia.

'Queensland can expect to see more inbound investment in the resources area in particular,' said Mr Knox.

'We have had a significant amount of interest from inbound investors as to potential opportunities. A few years ago we were working with Australian clients investing into China and elsewhere across Asia. While that continues, it is fair to say that the legal work has shifted from outbound to inbound investment.

'Yanzhou has highlighted that they intend to increase investment in existing mines and undertake further exploration projects. You are seeing a significant amount of economic inter-connection between Queensland, Australia and Asia and that is set to accelerate,' added Mr Knox.

Subject to regulatory approvals, the transaction is expected to be completed by the end of the year.

Ends

Allens legal team Andrew Knox (Partner – Brisbane)

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.