 | Coalcorp Mining Inc. Sells Mining and Related Assets to The Goldman Sachs Group, Inc. |
2010
| Areas | Corporate and Commercial, Corporate Finance and Securities, Litigation, Mining and Natural Resources, Tax |
Summary
Goodmans represented certain subsidiaries of Coalcorp Mining Inc. ("Coalcorp") in connection with the sale of their mining and related infrastructure assets to a subsidiary of The Goldman Sachs Group, Inc. ("Goldman Sachs") for total cash consideration of US$151 million and the assumption of certain liabilities, for a total transaction value in excess of US$200 million. In connection with the sale, Coalcorp repurchased US$106,730,000 of its outstanding 12% senior secured notes. Coalcorp is listed on the Toronto Stock Exchange and is in the process of developing a new business strategy that will capitalize on the expertise of its management team. Goldman Sachs is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services, and is traded on the New York Stock Exchange.
