Ascend Global Investment Fund SPC managed by Ascend Capital Advisors (S) Pte. Ltd. signed an agreement to acquire 4.5% stake in PT Golden Energy Mines Tbk from Golden Energy and Resources Limited (SGX:AUE) for $50 million on March 12, 2021. As per terms, 264.7 million shares will be acquired. The consideration is payable in cash within 30 days of completion. Post completion, Golden Energy will hold 3.7 million shares. The deal is subject to approval from noteholders. The transaction is expected to close on March 30, 2021. The proceeds will be utilized future investments as well as for general working capital purposes. Golden Energy will report a loss on disposal. Marcus Lee of Latham & Watkins LLP acted as legal advisor to Golden Energy and Resources Limited.

Ascend Global Investment Fund SPC managed by Ascend Capital Advisors (S) Pte. Ltd. completed the acquisition of 4.5 % stake in PT Golden Energy Mines Tbk from Golden Energy and Resources Limited (SGX:AUE) on March 30, 2021. The deal received an approval from noteholders.