Black Diamond Mining Announces Engagement of Miller Buckfire
Posted on: Thursday, 19 June 2008, 12:00 CDT
Black Diamond Mining Company, LLC, a producer of steam and stoker coal in Central Appalachia, announced that it retained Miller Buckfire & Co., LLC., a nationally recognized investment banking firm, as its exclusive financial advisor in connection with the company's restructuring. Black Diamond has been operating under chapter 11 protection since February 19, 2008. Miller Buckfire will assist Black Diamond in evaluating various prospective transactions, including a capital raise to sponsor a chapter 11 plan of reorganization and a sale of the business pursuant to section 363 of the U.S. Bankruptcy Code. The Company does not intend to disclose developments regarding its consideration of the foregoing transactions unless and until the Bankruptcy Court has approved a definitive transaction.
About Black Diamond
Black Diamond, headquartered in Prestonsburg, Kentucky, produces and markets Central Appalachian steam and stoker coal for consumption by electric utilities and industrial concerns in the central and southeastern United States. Black Diamond's annual production of over 2 million tons per year is not burdened by any long-term coal contracts. Black Diamond currently operates three surface mines and ten underground mines in eastern Kentucky.
About Miller Buckfire
Miller Buckfire is a leading independent investment bank providing strategic and financial advisory services focusing on complex restructuring transactions, mergers and acquisitions, and equity and debt financing. The firm was formed in July 2002 when the financial restructuring group at Dresdner Kleinwort Wasserstein spun off as an independent entity. Miller Buckfire's professionals have successfully restructured approximately $210 billion in debt, advised on M&A transactions valued at over $100 billion and advised on financings involving over $41 billion. The firm is based in New York. Additional information about Miller Buckfire can be found at www.millerbuckfire.com.
Source: Business Wire
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