Mitsubishi Corporation (MC) has entered into agreements to sell its two thermal coal assets held by Mitsubishi Development Pty Ltd, its wholly owned subsidiary headquartered in Brisbane, Australia. The total sale value of the assets is AUS$750 million.
The sales are subject to the terms of the Clermont joint venture documents, under which other joint venture participants hold pre-emptive rights, and fulfillment of other conditions, including certain regulatory approvals. The completions of the sales are expected in 2019.
MC has been taking steps to optimise its asset portfolio. The divestment of the assets is one part of this strategy.
Read the article online at: https://www.worldcoal.com/power/19122018/mitsubishi-to-sell-two-thermal-coal-assets-for-aus750-million/