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Negotiations to acquire Universal ongoing – Wescoal

7th March 2019

By: Tasneem Bulbulia

Deputy Editor Online

     

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JSE-listed Wescoal on Thursday said negotiations regarding a potential buyout of Universal Coal by a consortium that Wescoal is a part of, were ongoing.

“Negotiations regarding the conclusion of detailed transaction agreements are still in progress,” it said in a statement.

Wescoal in October last year announced that it had joined a consortium, led by Ata Resources, which had made an indicative offer to acquire Universal for A$0.35 a share.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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