Coal producer Golden Energy and Resources bids for Stanmore Coal
The acquisition is part of the company's efforts to diversify its coal product suite and expand its geographical presence
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Nisha Ramchandani
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Singapore
GOLDEN Energy and Resources (Gear) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore Coal as part of its efforts to diversify its presence and product suite.
Gear is acquiring a 19.9 per cent stake in coking coal-focused Stanmore for A$47.6 million in cash, with plans to eventually transfer that interest to a 51 per cent joint venture that is offering up to A$201.13 million for all the remaining shares of Stanmore.
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