Coalcorp Mining Sells Mining and Related Assets to Goldman Sachs Group

On March 19, 2010, certain subsidiaries of Coalcorp Mining Inc. (TSX: CCJ) completed the sale of their mining and related infrastructure assets to a subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS) for total cash consideration of US$151 million and the assumption of certain liabilities, for a total transaction value in excess of US$200 million.

In connection with the sale, Coalcorp repurchased US$106,730,000 of its outstanding 12 per cent senior secured notes.

Goldman Sachs was represented in-house by Steven Bunkin, Vice President and Associate General Counsel, and Margaret Vaden, Vice President and Assistant General Counsel. Goldman Sachs's international counsel was Boies, Schiller & Flexner LLP with a team that included Robert Leung, Jason Hill, Stefan dePozsgay, Matthew Senatore, Russell Franklin and Francisco Nuñez (corporate) and Jonathan Schiller, Eric Brenner and Vincent Liu (litigation). Osler, Hoskin & Harcourt LLP acted as Goldman Sachs's counsel in Canada and was represented by Douglas Bryce. Prieto & Carrizosa S.A. acted as Goldman Sachs's counsel in Colombia with a team that included Martín Acero, Nicolas Tirado and Carolina Hernández (corporate) and Carolina Rozo (tax).

Coalcorp was represented in-house by Juan Carlos Gómez and Javier Trillos and, in Canada, by Goodmans LLP with a team that included Grant McGlaughlin, Allan Goodman, Mark Surchin, Daniel Jeon, Gail Jaffe and Mark Haber (corporate); Alan Bowman and Marisa Wyse (tax); and John Keefe, David Lederman, Sandon Shogilev and Melanie Ouanounou (litigation). Gómez-Pinzón Zuleta Abogados S.A. acted as Coalcorp's corporate counsel in Colombia and was represented by Jorge Enrique Barón-Gómez, Ana Cristina Jaramillo and Margarita Martínez. Lewin & Wills acted as Coalcorp's tax counsel in Colombia and was represented by Adrian Rodriguez.