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Peabody says it’s still talking with Tinkler on mine sale

  • Peabody Energy (BTU) says it is still in talks with Nathan Tinkler about the sale of its Wilkie Creek mine in Queensland state, following a report that the former Australian billionaire missed a payment for the asset.
  • BTU is said to have granted an extension to Tinkler and his New York-based financiers, although it’s not clear for how long.
  • BTU agreed in May to sell the mine to Tinkler's company for $70M and the assumption of liabilities including rail and port obligations, but a June 30 deadline for the payment was missed.
Comments (1)
  • chuck lewis
    , contributor
    Comments (335) | Send Message
     
    Editor The Lewis Letter

     

    What else is new? BTU management can not even close a $70M deal.
    The most complacent, unpopular group of all the S&P 500 companies.
    Stuckholders will revolt. Oh where is Wilbur Ross?
    9 Jul, 06:00 PM Reply Like
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