Anglo American sells remaining coal assets for $3.8bn in first stage of restructuring

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Financial Times 11h ago

Anglo American sells remaining coal assets for $3.8bn in first stage of restructuring - Financial Times

Quick Summary:

The transaction is the first of four big business divestments that the company promised in May after it fought off a £39bn hostile takeover attempt from BHP.

Analysts at Berenberg said the deal had been done at better price multiples than other recent comparable coal transactions.

Metallurgical coal — used in making steel — is widely seen as having stronger future potential than the lower grade thermal coal used in power stations.