Bulletin: Anglo American PLC's Sale Of Its Remaining Coal Assets Is A Major First Step Toward Its New Stand-Alone Strategy

This report does not constitute a rating action. PARIS (S&P Global Ratings) Nov. 26, 2024--S&P Global Ratings today said that its ratings on Anglo American PLC (BBB/Watch Neg/A-2) are not immediately affected by the company's announced sale of its remaining coal assets. Global mining company Anglo American announced today that it has entered into definitive agreements to sell its remaining steelmaking coal business to U.S. coal miner Peabody Energy for a cash consideration of up to $3.8 billion. This transaction is one of the first major steps in the execution of the company?s new stand-alone strategy focused on strengthening its profitability by simplifying its portfolio, which it revealed in May 2024 after its board rejected three takeover bids by Australian

...November 26, 2024 This report does not constitute a rating action. PARIS (S&P Global Ratings) Nov. 26, 2024--S&P Global Ratings today said that its ratings on Anglo American PLC (###/Watch Neg/A-2) are not immediately affected by the company's announced sale of its remaining coal assets. Global mining company Anglo American announced today that it has entered into definitive agreements to sell its remaining steelmaking coal business to U.S. coal miner Peabody Energy for a cash consideration of up to $3.8 billion. This transaction is one of the first major steps in the execution of the company's new stand-alone strategy focused on strengthening its profitability by simplifying its portfolio, which it revealed in May 2024 after its board rejected three takeover bids by Australian rival BHP Group. One element of Anglo American's new strategy involves a substantial reshaping of its portfolio, notably including exiting its steelmaking coal, platinum group metals (PGM), diamonds (De Beers), and...

Bulletin