BLP advises on acquisition of Coal International Plc by Cambrian Mining Plc

Berwin Leighton Paisner LLP (BLP) is advising Coal International Plc (Coal) in connection with the recommended acquisition by Cambrian Mining Plc (Cambrian) of the entire issued and to be issued ordinary share capital of Coal (not already owned by Cambrian or its wholly owned subsidiary, Cambrian Investment Holdings Ltd).  The deal, which gives Coal shareholders one new Cambrian shares for every 3.25 Coal shares held, values the entire issued ordinary share capital of Coal at approximately £56.22m.

Coal was admitted to trading on AIM in April 2005 and was established for the purpose of making investments in, or acquisitions of, coal mining projects in locations across the globe with a particular focus on companies which are well positioned to exploit current commercial opportunities in the coal production sector. Cambrian Mining commenced trading in 2002 as a London-based mining finance house with the corporate objective of acquiring stakes in emerging resource companies or projects and assisting in their financing and development.

The BLP team is being led by Corporate Finance Partner Alex Latner, assisted by Marc Trottier.

Commenting on the transaction, Head of Corporate Finance and Client Relationship Partner, David Collins said: “We are seeing increasing consolidation amongst companies in the mining sector. The acquisition of Coal by Cambrian makes compelling strategic and operational sense in this case, particularly given the fact that Cambrian already holds over 30 per cent. of Coal’s issued ordinary share capital.”

Trowers & Hamlins LLP (Richard Hildebrand and Nick Harrisingh) are advising Cambrian.

If you would like any further information, please contact Alex Latner at alex.latner@blplaw.com.

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