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Gear and JV partner bag 25.5% share in Stanmore

Takeover bid gives Aussie coker strategic shareholder in the same business: Gear official

Annabeth Leow

Published Wed, Jan 23, 2019 · 09:50 PM

Singapore

A FRAUGHT takeover at Stanmore Coal has ended, leaving mainboard-listed Golden Energy and Resources (Gear) with a higher stake - but not, by any stretch of the imagination, a majority position - in the Australian coker.

Bid vehicle Golden Investments (Australia), a joint venture between Gear and Ascend Global Investment Fund, had a 25.5 per cent interest at the close of the buy-out offer on Tuesday. This is up from the 19.9 per ce…

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