The agreement between Sev.en Global Investments (Sev.en GI) and the Energy & Minerals Group to acquire a 51% interest in Coronado Global Resources Inc. has been terminated. The transaction expired on June 22, 2024 due to certain conditions not being met, including obtaining some of the regulatory approvals.
Sev.en GI said the timeline for regulatory approvals is not within its control, as they depend on various factors that are determined by the cooperation and engagement of regulators, the target company, and other parties involved in the process. No actual regulatory concerns have been raised by any of the parties, the company said.
“We have carefully re-assessed the transaction on the expiry of the outside date and concluded that terminating the deal is in Sev.en GI’sbest interests. The group therefore does not intend to seek to extend, renegotiate, or continue with the deal. We will continue
to look for new opportunities to grow our portfolio,” said Alan Svoboda, CEO Sev.en GI.
