Parties
Company
Teck Resources Ltd.
Company
Glencore PLC
Company
Nippon Steel
Company
Posco International Corporation
Teck Resources Ltd. has agreed to sell its entire coal business, Elk Valley Resources (EVR), to Swiss commodities trading giant Glencore PLC and two Asian steelmakers, Japan’s Nippon Steel and South Korea’s POSCO, in a deal valued at approximately $12.25 billion (US$8.9 billion). The deal is expected to close by the third quarter of 2024, at the earliest, due to the expected length of the necessary government review.
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 12,250,000,000Deal Status
ClosedClosing Date
11 July 2024