Yankuang Energy Group (HKG:1171, SHA:600188) agreed to acquire a 26% equity interest in Xibei Mining from four vendors for 4.75 billion yuan, a Tuesday filing with the Hong Kong bourse said.

The coal miner has also agreed to inject around 9.32 billion yuan of capital into the target company, which engages mainly in coal mining, washing, processing, and sales, as well as coal-related industry chain businesses.

Following completion, Yankuang Energy will hold a 51% stake in Xibei Mining, making the latter a unit of the company.

Shandong Energy, the controlling shareholder of Yankuang Energy, directly wholly owns the vendors and indirectly wholly owns Xibei Mining.

Yankuang Energy, on the same day, has renewed a proposed provision of material supply agreement with Shandong Energy that will supersede the existing contract and stay in effect till Dec. 31, 2027.