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RCF to buy NYCO

April 26, 2007 - 00:00 GMT

KEYWORDS: NYCO , wollastonite , Resource Capital Funds

24 April 2007
Fording Coal sale of US wollastonite major to private equity fund group nears closure

The purchase price was confirmed to IM as $34.5m. When first announced, the deal was expected to be completed by the end of March. A spokesperson for RCF told IM: “We have signed all necessary agreements with closing expected in May, subject to satisfaction of standard conditions precedent.”   During its webcast press conference today, Jim Brown, vice president and chief financial officer of Fording said: "Certain Mexican tax issues are still to be resolved before closure." Brown indicated closure likely to be near the end of Q2.   The tax issues relate...

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