Anglo American offloads Aussie coal mining business for $3.8bn
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Anglo American PLC has agreed to sell its Australian steelmaking coal business to Peabody Energy Corporation for up to $3.8 billion. The deal includes an upfront payment of $2.05 billion, potential earn-out payments of up to $550 million, and an additional $450 million contingent on the reopening of the Grosvenor mine.
November 25, 2024 | 8:00 am
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Peabody Energy Corporation is acquiring Anglo American's Australian coal business for up to $3.8 billion, which could enhance its coal production capacity and market position.
The acquisition of Anglo American's coal business is a significant expansion for Peabody Energy, likely to enhance its production capacity and market share in the coal industry. The deal's structure, with upfront and contingent payments, suggests a strategic investment in future coal price movements.
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