Teck Resources nears deal to sell coal business to Glencore – WSJ

Teck Assets (NYSE:TECK) is superior discussions to promote its coal enterprise to Glencore (OTCPK:GLCNF).

The deal could worth the coal enterprise at near $10 billion and will introduced as quickly as this week, in keeping with a WSJ report on Monday, which individuals acquainted with the matter.

Teck (TECK) has been weighing a possible sale of the coal enterprise as a part of a complete enterprise evaluation, because it tried to fend off a $23 billion takeover provide from Glencore earlier this yr.

Teck (TECK) CEO Jonathan Value mentioned final month that the corporate had obtained a number of options from traders on learn how to separate its coal and metals companies, and he hoped to decide on the cut up by year-end.

Growing story …