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Real Assets

Contura Acquires Alpha Natural Resources' Assets As It Emerges From Chapter 11

by posted 2years ago 18901 views

Alpha Natural Resources (ANR) is back and Contura Energy has arrived. Alpha issued a statement announcing it has emerged from Chapter 11 bankruptcy July 26, the same day Contura announced it had completed the acquisition of what had been Alpha’s key assets. Formed and majority-owned by a group of Alpha’s former first lien lenders, Contura was created to acquire and operate what had been Alpha’s core operations, allowing Alpha to emerge from Chapter 11 as a smaller, privately held company. Contura acquired all of Alpha’s operations and reserves in Northern Appalachia (including the Cumberland mine complex) and the Powder River ...