Ottawa approves sale of Teck's steelmaking coal business to Glencore

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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ottawa set to approve Glencore takeover of Teck’s coal business with stringent conditionsThree sources close to the transaction said that Ottawa was planning to soon approve the Glencore transaction as soon as Thursday evening
Source: globeandmail - 🏆 5. / 92 Read more »

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.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »