Wednesday, September 19, 2018

© Reuters.  Reuters: Rio Tinto's $2B coal assets attract investor consortium© Reuters. Reuters: Rio Tinto’s $2B coal assets attract investor consortium

  • A group of investors including Apollo Global Management (NYSE:APO) and Canada Pension Plan has formed a consortium to bid for coal assets put up for sale by Rio Tinto (NYSE:RIO), which could fetch $2B, Reuters reports.
  • Anglo American (LON:AAL) (OTCPK:AAUKF, OTCPK:AAUKY) had expressed an interest but the deteriorating outlook for met coal may deter it from making a formal bid, according to the report.
  • The sale of the Kestrel and Hail Creek coking coal mines is part of Rio’s planned exit from Australian coal to focus on iron ore, copper and aluminum.
  • Now read: Daily Insider Ratings Round Up 9/11/17: FRTA, TRN, FRGI, APO, NGL, CRZO

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