https://www.miningweekly.com

Wescoal, Keaton merger gets Competition Commission go-ahead

7th June 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Wescoal has taken one step closer to closing its proposed R526-million buyout of Keaton Energy, following unconditional approval by the Competition Commission.

The acquisition, announced in February, will be settled through R351-million in cash and the balance through the issue of 87.80-million Wescoal ordinary shares.

Wescoal and junior coal miner Keaton Energy’s shareholders have already approved the deal.

Through the acquisition, Wescoal is setting its sights on being a key player in the consolidation of the South African junior coal mining sector to significantly grow the company.

The commission determined that the proposed transaction is unlikely to substantially prevent or lessen competition. In addition, the proposed transaction did not raise any public interest concerns.

The deal, which excludes Keaton’s assets marked for disposal, namely Leeuw Mining and Exploration and Amalahle, is expected to be completed during the first half of 2018.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.121 0.157s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: