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Welcome to Ministry of Wealth and Gifts for your loved ones!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

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Monday, 16 May 2011

Australia's Gloucester to acquire Donaldson from Noble in $618 mln deal

May 16 (Reuters) - Australian coal miner Gloucester Coal said it has agreed to acquire unlisted Donaldson Coal Pty Ltd from Hong Kong-based commodities firm Noble Group for A$585 million ($618.5 million) including debt.


Gloucester said in a statement on Monday it planned to raise A$230 million at A$9.00 per share to partly fund the deal.

Noble Group has been expected to sell its 100 percent-owned Donaldson Coal Pty Ltd, which has coal mines in the Hunter Valley in New South Wales state, to Gloucester, according to sources and local media reports.

Noble owns a 65.3 percent stake in Gloucester.
Posted by Createwealth8888 at 08:50
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