Deal Details
acquisition of Westmoreland Kemmerer, LLC
Summary
Baird served as financial advisor and provided a fairness opinion to the Conflicts Committee of the Board of Directors of the General Partner of Westmoreland Resource Partners, LP.
About
Westmoreland Resource Partners, LP (the “Partnership”) (NYSE: WMLP) and Westmoreland Coal Company (“Westmoreland”) (NASDAQ: WLB) recently announced Westmoreland’s contribution of 100% of the outstanding equity interests of Westmoreland Kemmerer, LLC (“Kemmerer”) to the Partnership in exchange for aggregate consideration of approximately $230 million.The Partnership is a growth-oriented, low-cost producer and marketer of high-value thermal coal to United States utilities and industrial users, and it is the largest producer of surface mined coal in Ohio. The Partnership markets its coal primarily to large electric utilities with coal-fired, base load scrubbed power plants under long-term coal sales contracts. The Partnership is headquartered in Englewood, Colorado.
Kemmerer is a 13,400-acre surface mine complex located in southwest Wyoming. It currently produces coal in three active areas from 12 primary seams and their splits. Coal from this operation primarily supplies fuel to PacifiCorp’s adjacent Naughton Power Station via overland conveyor. Kemmerer is located in Kemmerer, Wyoming.
Westmoreland is the oldest independent coal company in the United States. Its coal operations include sub-bituminous and lignite surface coal mining in the Western United States and Canada, an underground bituminous coal mine in Ohio, a char production facility, and a 50% interest in an activated carbon plant. Westmoreland is headquartered in Englewood, Colorado.
For additional information about this transaction, please contact:
- Date
- August 2015
- Company
- Westmoreland Resource Partners, LP
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
- Acquiror Geography
- North America
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