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Stanmore Coal Receives Fresh Takeover Proposal from Winfield Group

Coal News - Published on Tue, 13 Aug 2019

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Stanmore Coal has received an acquisition proposal from Winfield Group Investments for an equity valuation of AUD 390-442 million. Indicative pricing for the proposal is within the range of AUD 1.48-1.90 per share. The board of Stanmore Coal has engaged with Winfield Group subsidiary, Winfield Energy to finalise a process deed to facilitate due diligence on the agreement.

Winfield Energy is a privately owned company with a 12.5 per cent interest holding in the Rolleston mine in Queensland’s Bowen Basin.

There is no guarantee that the indicative proposal by Winfield will result in a formal and binding offer for Stanmore Coal.

The company has insisted that the proposal is not a notice of an intention to make an offer and that the company’s board will update shareholders in due course.

The board of Stanmore Coal has recommended that shareholders take no action in relation to the proposal at this time.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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