Tue May 31, 2011 2:21pm GMT
HONG KONG May 31 (Reuters) - Hong Kong-listed Mongolian Mining Corp (0975.HK: Quote) is set to acquire a coking mine owned by Hong Kong's diversified business group Kerry Group for $464 million, a source familiar with the matter told Reuters on Tuesday.
If all the performance parameters of QGX Coal mine are achieved, additional payments will kick in which could take the total deal value to as high $950 million, the source added.
The Kerry Group had acquired the mine in 2008 for about $260 million, the source added.
The source declined to be identified as the deal was not public yet. The two companies could not be reached for an immediate comment. (Reporting by Denny Thomas and Michael Flaherty. Editing by Jane Merriman, sourced Thomson Reuters)
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