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TECK COMINCO / FORDING CANADIAN COAL TRUST
M.5308
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
1On 29 July 2008, Teck Cominco Limited (“Teck”) announced that it has entered into an agreement with Fording Canadian Coal Trust (“Fording”) by which it will acquire 100% of Fording’s assets which consist principally of a royalty in respect of Fording’s 60% interest in the Elk Valley Coal Partnership (“EVCP”). Teck currently owns 40% of EVCP, as well as having a 19.7% stake in Fording units.
2The economic sector involved in the concentration is mining; more specifically the mining and processing of coking coal.
3Fording has no material commercial interests other than in EVCP and therefore has no interest in sectors other than production of coking coal. Teck has no interests in coking coal or coal in general other than through EVCP. The concentration leads to the change from joint control to sole control over EVCP by Teck.