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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS No 7205v ATLANTIC RICHFIELD COMPANY 27th February 1998 ARCO, Alliance Coal Corporation Begin Exclusive Discussions for Sale of ARCO's U.S. Coal Assets Los Angeles, Feb. 27 ARCO (NYSE:ARC) announced today it has entered into exclusive discussions with Alliance Coal Corporation, an affiliate of The Beacon Group, for the sale of ARCO's coal assets in the United States. As a result of this acquisition, Alliance will become the second largest coal producer in the United States. In addition to The Beacon Group, an affiliate of Texas Pacific Group will become an investor in the combined entity as a result of the transaction. All principal terms and conditions have been agreed upon, but a binding agreement has not been executed. Terms and conditions were not disclosed. No final decision related to ARCO's coal assets in Australia has been made. ARCO's Australian holdings include joint venture interests in three mines in Queensland, Australia - Curragh, Gordonstone and Blair Athol. In the U.S., ARCO owns the Black Thunder and Coal Creek mines in Wyoming, in the West Elk mine in Colorado, and, through Canyon Fuel Company L.L.C. with ITOCHU Corp. of Japan, three mines in Utah. ARCO's coal interests are operated by ARCO Coal company, its Denver-based division. Alliance, through its subsidiary MAPCO Coal Inc., owns and operates eight mining complexes in Illinois, Kentucky, Maryland and Virginia. The Beacon Group is a private investment and advisory firm headquartered in New York City. Texas Pacific Group is a private investment firm based in Forth Worth, Texas, and San Franciso. For information contact: Albert Greenstein 213-486-3384. For a menu of ARCO's news releases or to retrieve a specific release, visit our Web site at http://www.arco.com on the Internet. END MSCAFLSIFAITFAT
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