With Latham & Watkins, MinterEllison has advised Anglo American on the agreement to sell its steelmaking coal portfolio to NYSE listed Peabody Energy for up to US$3.775 billion. The divestment includes the sale of four metallurgical coal mines in Australia's Bowen Basin. Anglo American's announcement provides further details of the transaction.

As part of the broader divestment programme, MinterEllison also advised on Anglo American's divestment of its 33.3% minority stake in Jellinbah Group Pty for A$1.6 billion / ~US$1.1 billion (announcement here).

Goldman Sachs and Morgan Stanley acted as financial advisers to Anglo American. Peabody Energy was advised by Jones Day and Moelis & Company.

Anglo American is a long-standing client of MinterEllison. We have acted for Anglo American and the previous owner of its Australian business, Shell, since the 1990s.

The MinterEllison team for this disposal was led by Simon Scott and Jordan Phillips, with assistance from Josephine Vidler, James Kleine, Tia Shadford, Oliver Waddingham, Alex Other-Gee, Joshua Waters and many others.