SINGAPORE (Dec 29): Shell company C&G Environmental Protection is morphing into a coal mining and trading company through the reverse takeover of four subsidiaries from Param Mitra Coal Resources of India.

After the completion of the RTO, C&G Environmental Protection will own more than 90% effective stake each in three mines in East Kalimantan totalling 7,243ha.

The purchase consideration for the deal is set at no less than $400 million, which is the appraised value of the three mines.

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