TORONTO (miningweekly.com) – Calgary-based Grande Cache Coal said on Thursday its C$1-billion acquisition by Hong Kong-listed and Japan’s Marubeni Corporation had closed.
The company, which owns coal mines in west-central Alberta, said its shares would be delisted from the TSX “shortly”.
Investment Canada earlier in February granted approval to the bid, first announced in October.
In December the Alberta Securities Commission accused Grande Cache CEO Robert Stan, former CFO Anita Roncin, marketing and transportation VP Eugene Nagai, former GM Timothy Riordon, controller Kevin Wade and Stan’s wife Kathryn Stan of breaking Alberta’s securities laws by engaging in illegal insider trading in 2008.
Edited by: Creamer Media Reporter
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