Canberra on Thursday approved a multibillion dollar tie-up between Gloucester Coal and China's Yancoal, clearing the way for a deal that will create Australia's largest listed coal firm. Treasurer Wayne Swan said the country's foreign investments watchdog had green-lighted the deal under strict conditions that the new company remain headquartered in Australia and list on the stock exchange by the end of 2012.
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All rights reserved to Arab Today Media Group 2025 ©
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