Anglo American to Sell Australian Coal Business for $3.8 Billion ...Middle East

OILPRICE - Economy
Anglo American to Sell Australian Coal Business for $3.8 Billion
source : OILPRICE ( Middle East ) () 76
Anglo American on Monday said it would sell its remaining portfolio of steelmaking coal mines in Australia to Peabody Energy for up to US$3.775 billion in cash, as the mining giant has embarked on a major restructuring of its business. With the deal announced today, Anglo American expects to generate up to US$4.9 billion in aggregate gross cash proceeds from its coal assets, including the already announced sale of Anglo American’s interest in Jellinbah for about US$1.1 billion. After rejecting takeover offers from mining giant BHP, Anglo…

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