Deals
This U.S. Coal Miner’s Getting Paid to Buy Assets in Appalachia
- Consol Energy to pay Booth $44 million to divest two mines
- Booth Energy to pick up Miller Creek, Fola thermal coal mines
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James Booth has done it again.
In September, his Booth Energy coal group bought a collection of Appalachian mines from a Florida utility company for nothing beyond liabilities. On Monday, it acquired another two sites in West Virginia -- this time, from Consol Energy Inc. -- for nothing beyond liabilities. In fact, Consol will pay a Booth Energy unit $27 million at closing and $17 million more over four years, according to a Securities and Exchange Commission filing on Monday.