I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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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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