Wescoal buying coal trader

SOUTH African coal miner Wescoal subsidiary Chandler Coal is buying a coal trading business and properties from McPhail Distributors for R65.5 million ($US6.56 million).

Noel Dyson

The transaction is expected to close on October 1.

Chandler subsidiary Blanford 006 has also entered into a deal to buy:

  • Erf 635 Wells Estate, Nelson Mandela Bay metropolitan municipality, division of Port Elizabeth, Eastern Cape province
  • Erf 13936 Worcester, situated in the Breede Vallei municipality, division of Worcester, Western Cape province
  • Erf 16069 Worcester, situated in the Breede Vallei municipality, division of Worcester, Western Cape province
  • Erf 7556 George, situated in the George municipality, division of George, Western Cape province.

The total purchase price is subject to possible adjustment pending the completion of a stocktake the day before the effective date.

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