KPMG Corporate Finance LLC Advises Concept Mining on Sale of Its West Virginia-Based Coal Business to ArcelorMittal

KPMG Corporate Finance LLC Advises Concept Mining on Sale of Its West Virginia-Based Coal Business to ArcelorMittal

Wednesday, August 20th 2008

KPMG Corporate Finance LLC, a full service, independent, middle-market investment bank, today announced that it was the exclusive advisor for the privately-owned Concept Mining and The Ridge Land Group on the sale of its metallurgical coal business in West Virginia to ArcelorMittal, the world’s largest integrated metals and mining company. The transaction adds in excess of 57 million metric tons of saleable and recoverable coal reserves and resources in the Appalachian region to ArcelorMittal.

“This transaction is representative of a continuing consolidation trend in North American mining and in particular in the Appalachian region,” said Peter Gray, managing director, KPMG Corporate Finance LLC. “With commodity demand and supply factors continuing to support sustainable high commodity prices, the acquisition path that ArcelorMittal is following signifies a wider trend toward integration among the major mining and metals companies.”

KPMG Corporate Finance LLC conducted a competitive global sale process for Concept to identify strategic acquirers that met price, management, growth strategy, and operating culture expectations of Concept. Of particular interest to Concept was maintaining the continuity of operations and workforce within the integrated ArcelorMittal platform. To achieve this transaction, KPMG Corporate Finance LLC developed significant buyer interest, coordinated management meetings, and worked with the Concept’s counsel Gentry Locke Rakes and Moore on conducting an extensive due diligence program that led to a successful transaction. Throughout the deal process, KPMG Corporate Finance LLC advised Concept on all aspects of the deal, including potential purchaser identification, due diligence requirements, deal pricing, and structuring issues.

KPMG Corporate Finance LLC provides a full suite of investment banking and advisory services to its domestic and international clients. Our professionals have the experience and depth of knowledge in global M&A and project finance to advise clients on mergers and acquisitions, sales and divestitures, buy-outs, financings, restructurings, fairness opinions, infrastructure project finance, and other advisory initiatives. In addition, we remain independent of financing sources, helping to ensure that our efforts are objective and aligned with the goals of KPMG’s firms’ clients. Operating in 51 countries, KPMG’s Corporate Finance practice comprises more than 1,800 professionals who are able to meet the needs of KPMG’s firms’ clients across the globe. In 2007, as a leading financial adviser, KPMG’s Corporate Finance practice completed 450 deals totaling US$27.5 billion, according to Thomson Financial’s global M&A league tables. Visit us online at

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