The firm entered into an agreement with an affiliate of Ambre Energy Limited on 10 November 2011 to sell all of the common stock of the holding company for the coal mining operations.
Liabilities associated with the coal mining business will be removed from Level 3’s balance sheet as a result of the transaction.
The transaction closed on 14 November 2011 and post-closing conditions were satisfied on 23 November 2011.
Financial terms of the transaction were not disclosed.
US-based Level 3 Communications (Level 3) is a provider of a wide range of integrated communications services.
