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.

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  • chuck lewis
    , contributor
    Comments (436) | 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 2014, 06:00 PM Reply Like
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