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Two years after fetching $1 billion debt-ridden Grande Cache Coal unloaded for $2
2014-10-02 08:38:17| Food - Topix.net
Two Asian firms that paid $1 billion to purchase Calgary-based Grande Cache Coal Corp. in 2011 are unloading most of it for $2 US to a new owner that will assume its debt. Chinese coal producer Up Energy Development Group Ltd. said Wednesday it has entered memorandums of understanding with Hong Kong-based Winsway Enterprises Holdings Ltd. and Tokyo-based Marubeni Corp. to acquire much of their interests in Grande Cache Coal, which produces steelmaking coal for export into Asian markets.
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