M&A
confidence high
sentiment neutral
materiality 0.55
Alliance Resource Partners acquires coal reserves for $15.5M from entities controlled by CEO and director
ALLIANCE RESOURCE PARTNERS LP
- Total purchase price $15.5M for coal reserves and surface rights in Ohio County, WV and Washington County, PA.
- KSC Foundation (controlled by Kathleen Craft Mowry, ~13% owner) paid $7.75M lump sum at closing.
- JWC Foundation (controlled by CEO Joseph W. Craft III) paid $1.85M at closing; balance at 5% interest in annual installments through Jan 2032.
- Buyer has right (or upon demand) to prepay JWC Foundation installments without penalty.
- Transaction approved unanimously by Conflicts Committee of independent directors.