New Hope to Acquire Malabar Resources in All-Scrip Deal
New Hope said it would acquire unlisted peer Malabar Resources, giving it full ownership of the Maxwell coal mine in New South Wales. The deal is valued at about A$2.4 billion ($1.67 billion).
Australian coal producer New Hope (ASX:NHC) said on Monday it would acquire privately held Malabar Resources in an all-scrip transaction valued at about A$2.4 billion ($1.67 billion). The deal would give New Hope full ownership of the Maxwell coal mine in New South Wales. The exchange rate cited was $1 = 1.4364 Australian dollars.