News: BHP Stanmore Resources Says To Acquire BHP's 80% Interest In BHP Mitsui Coal Joint Venture

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    Nov 8 (Reuters) - Stanmore Resources Ltd (SMR) :

    • STANMORE RESOURCES TO ACQUIRE BHP'S 80% INTEREST IN BMC
    • EXECUTED A DEFINITIVE AGREEMENT WITH BHP TO ACQUIRE BHP'S 80% INTEREST IN BHP MITSUI COAL JOINT VENTURE
    • CONSIDERATION FOR ACQUISITION COMPRISES US$1.2B CASH
    • INTENDS TO FUND ACQUISITION WITH A COMBINATION OF DEBT AND EQUITY
    • COMPLETION OF THE TRANSACTION IS EXPECTED MID-CY2022
    • ACQUISITION INCLUDES PORT AND RAIL AGREEMENTS TO SUPPORT AT LEAST 10.5 MILLION TONNES PER ANNUM
    • INTENDS TO FUND TRANSACTION VIA PARTIALLY UNDERWRITTEN PRO-RATA ACCELERATED RENOUNCEABLE ENTITLEMENT OFFER
 
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