Keaton, Wescoal shareholders approve acquisition

2nd June 2017 By: Anine Kilian - Contributing Editor Online

JOHANNESBURG ( – 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.