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Coal group MC Mining looks set to delist as board gives reluctant nod to takeover offer

Karl Gernetzky

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(Maremagnum/Getty Images)

(Maremagnum/Getty Images)

Junior coal miner MC Mining's delisting from the JSE now appears inevitable after its independent board on Wednesday recommended shareholders accept an off-market takeover offer from consortium Goldway Capital Investments.

Hong Kong-incorporated Goldway, which includes MC Mining shareholders, has now built up a stake of almost 84% in the miner. Now, its independent board is recommending acceptance of an offer - although it says it undervalues the business and its prospects.

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