ASF Group Limited (ASX: AFA) has announced the finalisation of a Share Sale and Purchase Agreement, seeing the divestment of its coking coal assets to Terra Mineral Resources Investment Limited (TMR). Under the terms of the agreement, TMR will acquire all issued shares in ASF Coking Coal Pty Ltd (ACC) for a cash consideration of A$3.08 million. ASF Group Limited (ASX: AFA) is a well-established, diversified investment company with over 40 years of operating history and a global investment footprint, specialising in pioneering high-value strategic trade and cross-border investment opportunities across property, resources, technology, and financial services.
ASF Coking Coal Pty Ltd (ACC) operated as a wholly-owned non-core subsidiary of ASF, holding a portfolio of nine coal tenements located in Queensland. The company’s Board has expressed its belief that this strategic divestment represents an excellent outcome for the company and its shareholders, successfully realising strong value from a non-core asset at a favourable market price.
The capital generated from this transaction is slated for strategic redeployment to fuel ASF Group’s future growth initiatives. Additionally, the funds will be directed towards new investment opportunities and strengthening its ongoing working capital position. The completion of this transaction is anticipated to occur within fifteen calendar days following the execution date of the agreement.
This divestment aligns with ASF Group’s focus on optimising its portfolio and reallocating resources towards its key strategic sectors, ensuring sustainable value creation and optimised shareholder returns.
