Clearwater to support the sale of Griffin Coal
Clearwater Capital Partners, as the largest creditor to Griffin Coal and a member of the Creditors Committees and Noteholder’s Working Group, has announced that it will support the sale of Griffin Coal Mining Company and Carpenter Mine Management to Lanco Resources Australia, a subsidiary of the listed Indian energy company Lanco Infratech. No financials has been released although some Australian press reports suggested that the Indian company bid $850 million.
In a press statement, Clearwater says that it was closely involved in the sale process and believes that this announced transaction will benefit all stakeholders and deliver fair returns to the creditors....
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