Grande Cache Coal Corporation Reaches Definitive Agreement to Be Acquired

Grande Cache Coal Corporation (TSX:GCE) announced its pending acquisition by Winsway Coking Coal Holdings Limited (HSE:1733) and Marubeni Corporation (TSE:8002).

As quoted in the press release:

The Arrangement is subject to customary conditions for a transaction of this nature, which include court and regulatory approvals, and the approval of 66 2/3% of the votes cast by Grande Cache Coal shareholders represented in person or by proxy at a special meeting of Grande Cache Coal shareholders to be called to consider the Arrangement.

Grande Cache Coal’s President and CEO, Robert Stan said:

“We are very pleased to announce this transaction and the considerable value it brings to our shareholders. We believe the Arrangement is a compelling transaction for Grande Cache Coal’s shareholders and recognizes our highly attractive mining operation and the exceptional team that we have assembled at Grande Cache Coal.”

Click here to read the Grande Cache Coal Corporation (TSX:GCE) press release.