CCI Approves Acquisition by Peabody MNG and Peabody SMC
ECONOMY & POLICY

CCI Approves Acquisition by Peabody MNG and Peabody SMC

The Competition Commission of India (CCI) has approved the acquisition of Anglo American plc’s steel-making coal portfolio in Australia by Peabody MNG Pty Ltd and Peabody SMC Pty Ltd.

Details of the Acquisition: Acquirers: The proposed transaction involves the acquisition by Peabody MNG Pty Ltd and Peabody SMC Pty Ltd (collectively referred to as the Acquirers). Nature of the Transaction: The Acquirers will acquire a portion of assets and businesses associated with Anglo American plc’s (Anglo) steel-making coal portfolio in Australia. Parent Company: Both entities are special purpose vehicles (SPVs) created for this acquisition and are ultimately owned by Peabody Energy Corporation (Peabody).

About Peabody Energy Corporation Peabody is a global producer and supplier of metallurgical and thermal coal. The company operates through its affiliates under the Peabody Group. Peabody’s India operations are primarily focused on coal imports.

About Anglo American plc’s Target Business The Target Business includes Anglo’s steel-making coal assets and businesses in Australia. Anglo American plc is a global mining company. In India, the Target Business is engaged in coal imports. Next Steps The detailed order of the Competition Commission of India (CCI) will be released in due course.

The Competition Commission of India (CCI) has approved the acquisition of Anglo American plc’s steel-making coal portfolio in Australia by Peabody MNG Pty Ltd and Peabody SMC Pty Ltd. Details of the Acquisition: Acquirers: The proposed transaction involves the acquisition by Peabody MNG Pty Ltd and Peabody SMC Pty Ltd (collectively referred to as the Acquirers). Nature of the Transaction: The Acquirers will acquire a portion of assets and businesses associated with Anglo American plc’s (Anglo) steel-making coal portfolio in Australia. Parent Company: Both entities are special purpose vehicles (SPVs) created for this acquisition and are ultimately owned by Peabody Energy Corporation (Peabody). About Peabody Energy Corporation Peabody is a global producer and supplier of metallurgical and thermal coal. The company operates through its affiliates under the Peabody Group. Peabody’s India operations are primarily focused on coal imports. About Anglo American plc’s Target Business The Target Business includes Anglo’s steel-making coal assets and businesses in Australia. Anglo American plc is a global mining company. In India, the Target Business is engaged in coal imports. Next Steps The detailed order of the Competition Commission of India (CCI) will be released in due course.

Related Stories

Gold Stories

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Equipment

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code