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.