The consideration comprises upfront cash proceeds of US$2.3 billion payable at completion and a price-linked earn-out of up to US$1.575 billion.

This transaction continues Anglo American’s steelmaking coal divestment process on which MinterEllison is advising, including the sale of Anglo American’s 33.3% minority stake in Jellinbah Group Pty Ltd for approximately US$1.0 billion. 

MinterEllison teamed with Latham & Watkins in delivering this work.  

The MinterEllison team was led by Jordan Phillips (Partner, Energy, Resources & Projects) and Simon Scott (Partner, Energy, Resources & Projects) with Josephine Vidler (Senior Associate), Tia Shadford (Associate) and Harvey Nihill (Lawyer), together with other specialists from across the firm, including, in particular, Tim Lynch (Partner, Tax) and Charlie Richardson (Associate, Tax).