Steam coal company buying Magnetar unit

By Alejandra Cancino
Posted March 7 at 8:00 a.m.

Magnetar Capital, an investment management firm based in Evanston, said on Monday that James River Coal Co. has entered into an agreement to purchase International Resource Partners LP, a metallurgical and steam coal company based in West Virginia.

International is owned by Magnetar’s Lightfoot Capital Partners, which Magnetar formed in 2007 to pursue investments in energy, the company said in a statement.

Magenetar said the agreement “supersedes prior plans to complete an initial public offering of IRP.”

The terms of the agreement were not released.

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