Blackgold to acquire Tengri Coal and Energy from MGL Development
BlackGold Natural Resources Limited has signed a sale and purchase agreement (SPA) with MGL Development Pte. Ltd. (MGL) for the acquisition of the entire issued and paid-up share capital of Tengri Coal and Energy Pte. Limited. MGL is the sole shareholder of TEC, which owns the entire issued and paid-up share capital of Tengri Petrochemicals LLC (TPL). TPL in turn owns the entire issued and paid-up share capital of Tsaidam Energy LLC (Tsaidam Energy).
TPL is a limited liability company incorporated in Mongolia and holds mining licenses to mine coal deposits in Bayan soum, Tuv province, Mongolia. Tsaidam Energy is a limited liability company incorporated in Mongolia and holds licenses for the construction of power plants and energy facilities in Mongolia.
The transaction is valued at SGD1 billion (US$755 million).
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