Anglo agrees to sell the rest of its steelmaking coal business
The deal that could rise to as much as US$3.775 billion in cash
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ANGLO American said it’s agreed to sell its steelmaking coal business for about US$4.9 billion, including the already announced sale of its interest in Jellinbah Group.
The company has agreed to sell its portfolio of steelmaking coal mines in Australia to Peabody Energy, in a deal that could rise to as much as US$3.775 billion in cash, Anglo said Monday (Nov 25) in a statement.
Anglo announced a restructuring earlier this year as part of a successful rebuttal of a US$49 billion approach from BHP Group, the world’s biggest miner. That plan centred around exiting diamond mining by spinning off or selling its De Beers unit, separating its platinum operations and selling its coal mines. BLOOMBERG
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