Gunvor takes one-third share of Signal Peak, will target export market for MT coal

摘要

Gunvor Group subsidiary Pinesdale LLC has purchased a one-third interest in Montana's Signal Peak coal mine, an operation owned jointly by FirstEnergy and Boich Companies. Pinesdale will pay 400 million dollars for the interest in Signal Peak. As part of the transaction, FirstEnergy will receive nearly 260 million dollars of the proceeds. Additionally, the transaction will reduce FirstEnergy debt by approximately 360 million dollars due to deconsolidation and will result in an estimated gain of 390 million dollars due to the revaluation of the asset, the company said.