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
Nisha Ramchandani
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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