Anglo to Sell Its Coal Business in $3.8 Billion Peabody Deal

Thomas Biesheuvel and Dylan Griffiths -- Anglo American Plc agreed to sell its steelmaking coal business to Peabody Energy Corp. for a fee that could rise to as much as $3.78 billion, as the miner’s restructuring gathers pace.

“The sale of our steelmaking coal business is another important step towards delivering the strategy that we set out in May to create a world class copper, premium iron ore and crop nutrients business,” Anglo Chief Executive Officer Duncan Wanblad said in a statement announcing the sale Monday. For Peabody, the deal will propel it toward the handful of producers that dominate the seaborne market for steelmaking coal. Currently the BHP Mitsubishi Alliance joint venture and Glencore Plc are the biggest producers.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Sell Stocks If a Trump Win Drives a Rally, Citi Strategists SayUS stocks may be rallying ahead of a potential victory for Donald Trump in next week’s US election, but for strategists at Citigroup Inc., a clean sweep for the Republican party will be a signal to sell.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »