Sentula Mining will merge its coal assets with Shanduka Resources in a deal valued at about $312.8 million, Reuters reports. As per the merger, Sentula will issue about 627 million new shares to Shanduka, to acquire 30% of the entire issued share capital of Shanduka Coal. Sentula will also take up 30% of the entire share capital of Kangra Coal, held via the subsidiary Shanduka Coal Investments. Shanduka will hold about 51.9% of the new combined group.
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