Coal Of Africa
ZAR467m Acquisition of Nucoal
Following entry into a Share Sale Agreement in October 2009, CoAL completed the ZAR467 million acquisition of NuCoal in January 2010.
The acquisition of NuCoal, a 2.5Mtpa thermal coal producer with assets in South Africa in close proximity to CoAL’s Mooiplaats mine, transformed CoAL into a multi site producer and provides for ongoing blending and transport synergies.
Azure advised CoAL, a longstanding client, on key aspects of the acquisition, from assessment of the opportunity and the initial approach, to due diligence and negotiation of the Share Sale Agreement, through to completion.