China Cinda selling $200m stake in Yancoal; Barrenjoey on trade

News Snapshot:

Barrenjoey Capital Markets was seeking buyers for $200 million worth of Yancoal Australia shares – or 2.7 per cent of the company – on Monday evening. Yancoal’s second-largest shareholder was trimming its stake after Monday’s closing bell. Louise Kennerley The $5.69 a share offer price was pegged at a 0.5 per cent discount to the day’s last trade. A term sheet sent to fund managers listed Cinda International HGB Investment (UK) Limited – or China Cinda – as the seller. The trade would take China Cinda from owning 12.57 per cent of Yancoal to just under 10 per cent. It...