10
May
13:32
Stanmore Coal completes BMC deal with BHP
Australian miner Stanmore Coal last week completed a deal with BHP to take an 80% stake in BHP Mitsui Coal (BMC).
Kallanish learns from Stanmore Coal's official announcement that Stanmore paid $1.1 billion on completion plus $200 million for working capital, an adjusted consideration which takes into account BMC's higher working capital balances in the wake of stronger market conditions. Another $100 million in cash still needs to be paid to BHP withi…
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Anonymous
Very good overview of the weekly steel market.
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