Matex Int'l spins into coal mine operator
It enters into deal with Blackgold to buy latter's HK subsidiary
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Singapore
MAINBOARD-LISTED Matex International is set to become an operator of four thermal coal mines in China through a S$475 million reverse takeover.
The textile specialty chemical maker has entered into a conditional sale and purchase agreement with Australia-listed Blackgold International Holdings to buy its wholly-owned Hong Kong subsidiary Blackgold Holdings HongKong, with S$25 million to be paid in cash, and the rest through the issuance of new shares.
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