Kohlberg Kravis Roberts & Co. (NYSE:KKR) announced the signing of a definitive agreement to acquire Capital Safety, a leading provider of fall protection equipment (”FPE”), from Arle Capital Partners, for $1.12 billion. With roots dating back to 1938, Capital Safety is a global leader in the design and production of FPE solutions for workers at height. A subset of the $20 billion safety equipment sector, FPE is a rapidly growing industry driven by rising social and regulatory focus on worker safety, in addition to underlying growth in key end-markets across developed and emerging geographies.
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $58.7 billion in assets under management as of September 30, 2011. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes.
MAJESTIC GOLD CORP (MJGCF)
Gold was the first metal widely known to our species. When thinking about the historical progress of technology, we consider the development of iron and copper-working as the greatest contributions to our species’ economic and cultural progress - but gold came first.
Gold is the easiest of the metals to work. It occurs in a virtually pure and workable state, whereas most other metals tend to be found in ore-bodies that pose some difficulty in smelting.
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information please visit official website of MJGCF.pk: http://www.majesticgold.net
Alpha Natural Resources (NYSE:ANR), one of the nation’s leading coal suppliers, today officially opened its new corporate headquarters facility in Bristol, Va. The five-story, 130,000-square-foot building is located on 30 acres in the Sugar Hollow Business Complex. Virginia Governor Robert McDonnell and other state and local dignitaries joined Alpha employees for a ribbon-cutting ceremony at the building Monday afternoon. A group of 14 coal miners cut a “ribbon” of miners’ belts to signify the opening of the building.
Alpha Natural Resources is a leading supplier and exporter of metallurgical coal used in the steel-making process and is a major supplier of thermal coal to electric utilities and manufacturing industries across the country.
Hillenbrand Inc (NYSE:HI) reported worldwide revenue of $231 .2 million for the fourth quarter of fiscal 2011, a 9% ( $19.2 million ) increase over the prior year. The company’s fastest-growing business platform, Process Equipment Group, increased revenue 32% ($18.4 million) to $76.4 million , or 25% ( $14.3 million ) on a constant currency basis. Excluding the impact of the August 31 acquisition of Rotex, revenue grew 17%. The acquisition also contributed to a 26% increase in Process Equipment Group’s order backlog compared to the third quarter. The Batesville business platform reported fourth-quarter revenue of $154.8 million , slightly above prior-year revenue of $154 million .
Hillenbrand, Inc., through its subsidiary, Batesville Services, Inc., manufactures, distributes, and sells funeral service products to licensed funeral directors operating licensed funeral homes.
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