Central Europe's leading coking coal producer, Czech-based New World Resources N.V. (NWR), has announced the closure of the sale of its subsidiary NWR Energy to Dalkia Ceska Republika for a consideration of about €131 million - up from the original announced price of €122 million.
"This transaction is in line with NWR's strategy of focusing on its core activities of coal mining and coke production. The company expects to use the net proceeds from the sale of NWR Energy for capital expenditure," reads the company's release.
NWR Energy and its subsidiaries will continue to supply OKD, NWR's wholly-owned Czech mining subsidiary, with key utilities and services under a long-term agreement.