[miningmx.com] — OPTIMUM Coal Holdings said there were no other suitor for the company except a consortium consisting of Glencore and Cyril Ramaphosa, the politician-turned-businessman.
In a statement to the JSE, the coal producer said an alternate expression of interest in the company, referred to in an earlier statement, had been withdrawn.
The Glencore/Ramaphosa consortium now owns 25.8% of the company after buying a further 2.49 million shares earlier this week for an average price of R37.99 per share.
“The Board has been informed that the alternative party referred to in the cautionary announcement of 1 September 2011 has withdrawn its interest in acquiring a controlling interest in Optimum,” the company said in its statement.
The Glencore/Ramaphosa joint venture also confirmed that if it made a firm offer for the company in the next six months, from September 6, it would do so at not less than R38/share valuing Optimum Coal at some R9.5bn.
