Shares of Coronado Global Resources (ASX:CRN) saw an increase of up to 3.8% to A$1.910, reaching their highest level since March 6.

The rise happened after Sev.en Global Investments, a Czech-based investment group, announced on Monday that it is set to purchase a 51% stake in Coronado from the Energy & Minerals Group.

The conclusion of the acquisition is subject to regulatory approvals in the U.S.

and Australia, among other standard closing conditions.

Roughly 2.0 million shares exchanged hands, compared to the 30-day average trading volume of 1.8 million shares.

Notably, Coronado’s performance year-to-date has found it down by 7.5% as of its most recent close.

Coronado Global Resources (ASX:CRN) is a prominent commodities company specializing in coal mining and production on global level.