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Blumont Group Ltd Plans $117 Million Takeover Of Coal Miner-Reuters

Thursday, 3 Oct 2013 09:38pm EDT 

Reuters reported that Blumont Group Ltd has agreed terms on a proposed takeover of a foreign-listed coal company for about SGD146 million ($117 million). Blumont did not name its target, but said it had made previous investments in the company. A company it has invested in, Australian-listed coal explorer Cokal Ltd, went on a trading halt at the same time. Blumont said the acquisition would be paid for through a share issue of about 72.2 million new Blumont shares. Separately, it said it had agreed to invest up to about SGD98 million in the target by buying new shares and convertible bonds issued by the target. 

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