Reference is made to the article in today's Australian Financial Review stating that Gloucester Coal Ltd (Gloucester ASX: GCL) is among other things, seeking to raise up to $500 million, and to buy certain assets from Gloucester's parent, Noble Group Limited (Noble).
As previously advised and as set out in Gloucester's Target Statement dated 21 June 2010, Gloucester is in discussions with Noble regarding a potential transaction which would involve Gloucester acquiring certain of Noble's Australian coal assets. No agreement has been reached between Gloucester and Noble and no decision has been made in respect of any capital raising.
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Createwealth8888:
May be is a pretty good way of off loading its assets like dumping into a biz trust?
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