The revised cash offer of 45.5c per share had captured more than 90% of Carabella’s shares when it closed one week ago – allowing the takeover play to enter the compulsory acquisition phase.
The initial Chinese offer of 42c in early December was a 110% premium on the previous day’s closing price at the time.
Privately held Kingho said it owned eight coal mines with 3 billion tonnes of resources at the end of 2012, with total production capacity of about 15 million tonnes per annum.
Kingho said it owned three iron ore mines in China with production capacity of about 3.85Mt.
Carabella’s Bluff open cut metallurgical coal project in central Queensland is targeting 1.4Mt run of mine with first exports in 2015.
