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Australian coal baron Tinkler sells Whitehaven stake

Embattled Australian coal magnate Nathan Tinkler on Wednesday sold half of his stake in Whitehaven Coal to a US-based investment fund for about Aus$300 million (US$284 million). The Tinkler Group said the shares in the coal producer had been sold for Aus$2.96 each, a 40 percent premium to the current market price, with Farallon Capital Management snapping up a 9.9 percent stake. "While we are happy with the price we have received ... we feel strongly that this still significantly undervalues the company's underlying asset base," the Tinkler Group said in a statement.

Australian tycoon's racing empire on the block

Australian coal tycoon Nathan Tinkler put his thoroughbred breeding and racing empire on the market Tuesday, saying he no longer had enough time to devote to the business. Media reports suggested the package, which includes more than 1,000 horses on a 3,300-acre (1,335-hectare) property in the Hunter Valley north of Sydney and another 1,000 acres in Queensland, could fetch Aus$125 million (US$131 million).

Australian magnate Tinkler says ''left holding the can''

By Jane Wardell SYDNEY (Reuters) - Nathan Tinkler became Australia's youngest billionaire in record time thanks to a series of aggressive bets on the country's coal mining sector. But the man who started his career as a pit electrician acknowledged on Thursday he may have attempted one risky deal too many, leaving him with an undiversified portfolio that was heavily exposed to plummeting coal prices.

Australian mining mogul Tinkler set for a hard landing as sale nears

By Jane Wardell and Saeed Azhar SYDNEY/SINGAPORE, Jan 11 (Reuters) - Nathan Tinkler, whose meteoric rise made him Australia's pre-eminent coal baron, is set for a crash-landing as his main financial backer moves closer to a sale of the former billionaire's stake in Whitehaven Coal, sources said.
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