SINGAPORE, April 29 (Reuters) - Singapore-listed coal miner Straits Asia <STRL.SI> said on Wednesday that Thailand's PTT International <PTT.BK>, will make a mandatory conditional cash offer for all Straits Asia shares.
The move comes after PTT completed the acquisition of 60 percent of Australia's Straits Resources' <SRL.AX> unit, Straits Bulk & Industrial Pty Ltd, which holds a stake in Straits Asia, as well as coal assets in Brunei and Madagascar, in a deal worth up to $335 million.
Straits Asia said J.P. Morgan will be conducting the mandatory cash offer on behalf of PTT International at a price of S$0.807 per share, valuing the company at around S$882 million.
Trading in Straits Asia's shares were halted on Tuesday pending the completion of the deal and last traded at S$1.09.
