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Golden Energy unit makes 2nd attempt to take over Stanmore Coal
Bid could cost offer vehicle - a JV of Golden Energy, Ascend Global Investment Fund - up to A$185m cash
Published Thu, Apr 2, 2020 · 09:50 PM
Singapore
MAINBOARD-LISTED Golden Energy and Resources (Gear) is making a second attempt at taking over Australia-listed Stanmore Coal, after its previous offer was rebuffed by shareholders of the coking-coal company.
Golden Investments (Australia) - a joint venture between Gear and Ascend Global Investment Fund - said it is making an unconditional cash offer for all the ordinary shares in Stanmore Coal it does not already own, at A$1 per share, according to a bourse filing on Thursday.
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