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APAC CoalLtd. said May 3 that it entered a heads of agreement to acquire aChina-based agriculture and food business, the Goyes group of companies.
The exclusive agreement allows APAC to complete negotiationsand enter a binding share purchase agreement before June 30.
The acquisition is expected to be funded by way of a shareissue to the vendors of Goyes, and the board may be reconstituted to include amajority of vendor-appointed directors.