Seeking Alpha

Ambre Energy to buy Cloud Peak's 50% interest in Decker mine for ~$67M

  • Cloud Peak Energy (CLD +1.3%) agrees to sell its 50% interest in the Decker mine in Montana and related assets.
  • In return for gaining 100% ownership of the mine, Ambre assumes liability for $66.7M in reclamation and lease bonds for the mine; CLD also gains the option to move nearly 8M tons/year of coal through a port proposed by Ambre in Longview, Wash.
  • CLD says the deal positions both companies to meet anticipated future growth in Asian thermal coal demand.
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