Apollo Said Close to Deal for Anglo’s Australian Coal Mines

  • Agreement may ultimately value mines at more than $1.5 billion
  • Buyout firm, Xcoal beat BHP, Coronado for Australian mines

Apollo Global Management LLC and Xcoal Energy & Resources LLC are poised to buy Anglo American Plc’s Australian metallurgical coal assets, after beating out competition from rivals including BHP Billiton Ltd., people with knowledge of the matter said.

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