Metals & Mining M&A » By The Online Investor Staff, updated Sun., Jul. 12, 10:00 PM
Recent mergers and acquisitions in the Metals & Mining M&A category.
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Slide #79. Westmoreland Coal Company — Prairie and Mountain coal mining operations of Sherritt International Corporation
Acquirer:
Westmoreland Coal Company (WLB)
Acquiree:
Prairie and Mountain coal mining operations of Sherritt International Corporation
Details:
Westmoreland Coal Company (NasdaqGM:WLB) announced today that it has entered into an agreement to acquire the Prairie and Mountain coal mining operations of Sherritt International Corporation ("Sherritt") for approximately $435 million. These operations include seven producing thermal coal mines in the Canadian provinces of Alberta and Saskatchewan, a 50% interest in an activated carbon plant and a Char production facility.
Westmoreland Coal is an energy company. Co. produces and sells thermal coal primarily to investment grade utility customers. At Dec 31 2016, Co.'s operations included 13 wholly-owned coal mines in the U.S. and Canada, a charcoal production facility, a 50% stake in an activated carbon plant, and two coal-fired power generation units. Co. also owned the general partner of, and, at Dec 31 2016, 93.9% of the total equity interest in, Westmoreland Resource Partners, LP, which owned and operated four mining complexes in Ohio and one mine in Wyoming. As of Dec 31 2016, Co. had a total of 888.2 million tons of proven and probable coal reserves.
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