Business

The last of Nathan Tinkler's stake in Whithaven Coal sold

FORMER billionaire magnate Nathan Tinkler no longer has any stake in junior miner Whitehaven Coal, but changes in ownership are likely to have little impact on Queensland plans.

On Wednesday June19, the last of Mr Tinkler's almost 19.4% stake in the coal firm was sold for about $600 million, of which 9.91% was snapped up by Farallon Capital Management making it the company's largest shareholder.

Whitehaven has three coal exploration areas in Queensland's Bowen Basin.

A spokeswoman for Whitehaven said the changes in owners made little difference to the plans of the company itself.

"The share register changes would have absolutely no impact on the exploration projects in Queensland," she said.

"It is business as usual."

After securing the deal, Farallon released a statement alongside Whitehaven's announcement to the ASX, to say it believed the share price of Whitehaven shares were so far undervalued.

"Farallon looks forward to growth in shareholder value over time," the statement said.

Topics:  bowen basin, coal, farallon, mining, nathan tinkler, whitehaven coal


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