Skip to main content

Asia Coal Energy improves offer for coal miner ARMS

Published by
World Coal,

Asia Coal Energy (ACE) has raised its offer price by approximately 37% for the Indonesia-focused coal miner Asia Resource Minerals (ARMS). The offer now stands at 56 pence per share from 41 pence.

Hannam & Partners, (ACE’s financial advisor), confirmed it was satisfied that there were adequate financial resources available to ACE to fund the deal.

ARMS shareholders, Rothschild and NR Holdings, have already given final confirmation to ACE and Sinar Mas (an Indonesian organisation that funds ACE) that they will accept the offer in exchange for a 17.21% stake in ARMS.

Edited by Harleigh Hobbs. Source: Reuters.

Read the article online at:

You might also like

Dyno Nobel

[Webinar] Breaking new ground in mine blasting

Dyno Nobel will be discussing the latest innovations for making mine blasting more productive and less costly. Register for free today »


New Chair appointed for MCA

The Minerals Council of Australia (MCA) has today appointed a new Chair to lead the organisation.


Embed article link: (copy the HTML code below):