VANCOUVER — Ottawa says it has approved Teck Resources Ltd.'s sale of a majority stake in its steelmaking coal business to Swiss commodities giant Glencore.
Teck says the latest development means the sale of its remaining 77 per cent interest in the steelmaking coal business, Elk Valley Resources, has now received all necessary regulatory approvals and is expected to close next Thursday. The Vancouver-based miner says it expects to receive $9.5 billion from the sale, excluding closing adjustments.
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Ottawa approves sale of Teck's steelmaking coal business to GlencoreVANCOUVER — Ottawa says it has approved Teck Resources Ltd.'s sale of a majority stake in its steelmaking coal business to Swiss commodities giant Glencore.
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Canada set to approve Glencore takeover of Teck coal business, The Globe and Mail reportsThe government is planning to approve the deal as soon as Thursday, the report added citing sources close to the transaction. Teck and Glencore did not...
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