Yesterday Centennial formally accepted Xstrata's $479 million offer, with the cheque from the sale to be received within the next three business days.
The Austral Coal bid was priced at $1.83 per share. Austral is the owner of the Tahmoor mine in Australia.
Centennial's 86% interest in Austral was targeted by Xstrata Coal after announcing it would buy Centennial's Anvil Hill Mine in September this year and planned on adding Austral Coal's Tahmoor mine to its portfolio soon after.
The company has now pocketed $904 million from both sales and intends to return up to $2 for each Centennial share held by shareholders.
