{"id":4944,"date":"2023-06-13T15:46:41","date_gmt":"2023-06-13T15:46:41","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=4944"},"modified":"2023-06-13T17:01:46","modified_gmt":"2023-06-13T17:01:46","slug":"multiple-potential-suitors-for-teck-coal-business-sale","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2023\/06\/13\/multiple-potential-suitors-for-teck-coal-business-sale\/","title":{"rendered":"Multiple potential suitors for Teck coal business sale"},"content":{"rendered":"

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Teck has confirmed that it is in receipt of \u201ca number of inbound indications of interest\u201d from potential buyers for the planned sale of its steel coal business arm.<\/p>\n\n\n\n

Teck, which is seeking to separate its coal division from its base metals division, did not identify any of the involved parties but said it and its board, as well as an independent special committee, are considering and evaluating all \u201cactionable, value-accretive proposals\u201d to determine if they are in the best interest of Teck.<\/p>\n\n\n\n

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\u201cTeck\u2019s board will appropriately consider and evaluate any proposal that can unlock the tremendous potential of Teck\u2019s premium businesses and portfolio of high-quality assets as part of our ongoing work to continue building a great mining business and realize value for shareholders,\u201d said board chair Sheila Murray.<\/p>\n<\/blockquote>\n\n\n\n

\u201cWe are also resolved to identify a path that ensures continued responsible operations in the Elk Valley and supports a sustainable future for the benefit of employees, local communities and Indigenous peoples.\u201d<\/p>\n\n\n\n

CEO Jonathan Price said the recognition of its assets in the market has led to the considerable interest.<\/p>\n\n\n\n

\u201cOur focus on separation is to unlock the full potential of our unparalleled copper growth business and create significant value and opportunity for our shareholders and all stakeholders,\u201d he added.<\/p>\n\n\n\n

Teck noted there is no assurance any transaction or other strategic outcome will result from the conversations. It is being advised by Barclays Capital Canada and Ardea Partners (financial) and Stikeman Elliott LLP and Paul, Weiss, Rifkind, Wharton & Garrison (legal).
<\/p>\n\n\n\n

Source: teck.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Teck has confirmed that it is in receipt of \u201ca number of inbound indications of interest\u201d from potential buyers for the planned sale of its steel coal business arm. Teck, which is seeking to separate its coal division from its base metals division, did not identify any of the involved parties but said it and its board, as well as…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[2084,1433,244],"coauthors":[1644],"class_list":["post-4944","post","type-post","status-publish","format-standard","hentry","category-latest-news","tag-coal-business-sale","tag-elk-valley","tag-teck-resources"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t