News Releases

Baker Botts Advises Bowie Resources in Acquisition of Canyon Fuels

Release

 

HOUSTON, July 1, 2013 -- On June 27, 2013, Bowie Resources, LLC (“Bowie”) entered into a purchase agreement with Arch Coal, Inc. (“Arch”) under which Arch will sell to Bowie its wholly-owned subsidiary, Canyon Fuel Company, LLC (“Canyon Fuel”), for $435 million in cash, subject to customary adjustments for working capital and other items.

To finance the acquisition, Bowie has obtained a committed equity financing from Galena Private Equity Resources Fund, who will provide a cash investment in return for a minority equity stake in Bowie, and a committed debt financing led by Morgan Stanley Senior Funding Inc. and Deutsche Bank AG New York Branch. The acquisition and the related financings are expected to be completed in the third quarter of 2013.

Baker Botts represented Bowie in connection with the acquisition and the related financing commitments.

For more information, please see Bowie Resources’ news release by clicking here.

About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 173-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit www.bakerbotts.com.