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Keaton, Wescoal shareholders approve acquisition

2nd June 2017

By: Anine Kilian

Contributing Editor Online

     

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JOHANNESBURG (miningweekly.com) – The shareholders of both Wescoal and Keaton Energy have approved Wescoal’s proposed R525-million buyout of Keaton Energy.

The acquisition, announced in February, will be settled through R350.39-million in cash and the balance through the issue of 87.6-million Wescoal ordinary shares.

The transaction merger notification was filed with the Competition Commission in April and a decision is expected to be made before July 6.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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