CONSOL Energy Sells Non-Producing Coal Assets for $127 Million

In the first transaction, CONSOL Energy partnered with Forbes & Manhattan Inc.,a private merchant bank headquartered in Toronto, Canada, for the sale of a portion of its metallurgical coal assets located in Alberta, Canada. Ram River Coal Corp., a private Ontario company created by F&M to purchase the coal assets, acquired 100% of the Ram River and Scurry Ram coal properties on December 21, 2012 for aggregate consideration of $105 million ($102.5 million payable to CONSOL Energy).