Turnround Investor Moulton Expresses Interest in UK Coal Assets

The Financial Times reported that veteran turnaround investor Jon Moulton is considering a move to buy parts of UK Coal in the wake of news that two of Britain’s last coal mines may soon close. UK Coal is currently seeking a government bailout.

According to the publication:

UK Coal needs £20m, including £10m from the government, for an orderly closure of the pits over the next 18 months. Mr Moulton said he would move in only if the government turns the proposal down as government capital was cheaper than private capital.

Click here to read the full Financial Times article.