Rio Tinto's $2 bln coal assets attract CPPIB, other investors: Reuters
A group of investors, including U.S. buyout firm Apollo Global Management and Canada Pension Plan Investment Board (CPPIB), is bidding for coal assets put up for sale by global mining giant Rio Tinto Group, which could fetch US$2 billion, sources told Reuters. The sale, run by Credit Suisse, 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. Apollo and CPPIB have joined forces with U.S. coal company Xcoal Energy & Resources and a former Glencore executive to bid for the assets, two sources said. Interested parties have been invited to submit tentative offers by December 8.
12 October 2017•2 mins read
