Straits Resources in halt on $474m deal

Straits Resources has called a halt to trading of its shares, pending an announcement to its recent $US335 million ($A474 million) deal with Thailand's PTT International Company.

Last month, the West Perth-based company sold a 60 per cent interest in Straits Bulk & Industrial Pty Ltd, the holding company of Straits' 47.1 per cent interest in Straits Asia Resources.

Straits Resources has been reviewing its Straits Asia holding since it received a number of unsolicited expressions of interest late last year.

The PTT transaction will dilute Straits' interest in Straits Asia to 18.84 per cent.

Shares in Straits last traded at $1.505.