SHANGHAI (AP) -- China's Winsway Coking Coal Holdings and Japan's
Marubeni Corp. say they are planning to jointly acquire Grande
Cache Coal Corp. in Canada for about $1 billion.
The deal announced Monday in a notice to the Hong Kong stock
exchange calls for the two Asian trading houses to pay 10 Canadian
dollars ($10) a share for outstanding shares in the Calgary-based
Winsway, a major importer of coking coal for China's steel industry, said it will hold 60 percent of Grande Cache while Marubeni will have 40 percent.
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