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CST Canada Coal acquires coal assets of Grande Cache Coal LP and Grande Cache Coal fur USD 433.9 million

Coal News - Published on Mon, 08 Oct 2018

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Sonicfield Global Ltd., an indirect wholly owned subsidiary of CST Group Ltd., and Deloitte Restructuring Inc., in its capacity as court appointed receiver and manager of the assets, properties and undertakings of Grande Cache Coal LP, Grande Cache Coal Corp., Up Energy (Canada) Ltd. and 0925165 B.C. Ltd, entered into an asset purchase and sale agreement, pursuant to which Sonicfield agreed to purchase certain coal assets from the Receiver for aggregate consideration of approximately USD 433.9 million.

Concurrently, Sonicfield and China Minsheng Banking Corp., Ltd. entered into a restructuring implementation agreement providing for, among other things, the debt restructuring of Grande Cache Coal LP and Grande Cache Coal Corp. in connection with the Transaction.

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Posted By : Nanda Koijam on Mon, 08 Oct 2018
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