Teck Cominco acquires Fording Canadian Coal assets

By Lisa Kerner

Charlotte, N.C., Oct. 30 - Teck Cominco Ltd. purchased all the assets of Fording Canadian Coal Trust, giving Teck 100% ownership of Elk Valley Coal Corp., which it will rename Teck Coal Ltd.

Fording unitholders will receive 0.245 of a Teck class B subordinate voting share and $82 in cash for each unit.

According to a Teck news release, Fording's units have ceased trading on the Toronto Stock Exchange and the New York Stock Exchange.

Fording, located in Calgary, Alta., is an open-ended mutual fund trust and one of the largest royalty trusts in Canada.

Teck Cominco is a Vancouver, B.C.-based mining company.

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