Puda Coal Inc (PUDA)

[Drexion2004]

Going off memory here but I believe they paid 14M for the 18% stake in Jianhe. 8M or so has already been paid, with about 6M remaining. They are awaiting on government approval to finish that 18% acquisition. They also get 'preferential rights' to buy the rest of Jianhe, but as far as I know they have made no indication that is on the 'cards' anytime soon. PUDA is going to have its hands full doing the 8-mine consolidation, I think they will keep the JianHe stake at 18% for awhile.

-Fernando