https://www.miningweekly.com
Coal|Energy|Financial|Resources
Coal|Energy|Financial|Resources
coal|energy|financial|resources

Stanmore gets an offer out of Indonesia

19th November 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Coal miner Stanmore Coal has received a 95c a share takeover offer from Golden Investments, a company which is 51% owned by Indonesian coal producer Golden Energy and Resources and 49% held by Ascend Global Investment Fund.

The unsolicited offmarket bid valued Stanmore at around A$240-million and offered a 14.5% premium to Stanmore’s five-day volume weighted average share price on the ASX.

Stanmore on Monday urged shareholders not to take any action, saying that the company’s board would evaluate the offer and provide shareholders with a recommendation in due course.

Golden Energy and Resources said in a statement on the Singapore Stock Exchange that this was an "attractive offer" for Stanmore shareholders, offering a full liquidity opportunity, and providing immediate value to Stanmore shareholders.

Golden Energy and Resources has reportedly also struck a deal with Stanmore’s largest shareholders to acquire its share in the Australian coal miner, giving the joint venture an 19.9% interest in Stanmore.

Stanmore earlier this month increased its production guidance for the 2019 financial year from 1.8-million tonnes to 2-million tonnes, after securing additional long-term port capacity.

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 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:0.167 0.207s - 129pq - 2rq
Subscribe Now