Linc Energy To Buy Golden Concord 5% Of The Company
Linc Energy (LNC) is an Australian Small Cap energy company that produces ultra-clean diesel and jet fuels.
Linc Energy announced that Hong Kong-based Golden Concord will buy 5% of the company for about $120 million.
The investment equates to about $4.50 a share, a significant premium to Linc’s last close of $1.07.
The deal forms part of a new venture in which Linc holds a 33% interest and Golden Concord the rest.