Deals
Glencore, Apollo Bid for Rio Tinto's $1.5 Billion Coal Assets
- Whitehaven, South32, EMR Capital set for second round of sale
- Sale includes the Valeria and Winchester South coal projects
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Glencore Plc and a group led by Apollo Global Management LLC are among bidders set to be shortlisted for the sale of Rio Tinto Group’s last remaining coal mines, which may fetch more than A$2 billion ($1.5 billion), people familiar with the matter said.
Whitehaven Coal Ltd. and South32 Ltd. also made indicative offers for the Hail Creek and Kestrel mines by the deadline this month, the people said, asking not to be identified because the information is private. The parties, which also include EMR Capital Advisors Pty, are preparing to enter the second round of the sale process, which will include management presentations and site visits, before deciding on final bids, the people said.