BHP and Stanmore complete BMC deal
Coal miner Stamore Coal has completed the acquisition of an 80% interest in BHP Mitsui Coal (BMC) from diversified giant BHP.
Stanmore has paid a $1.1-billion cash consideration at completion plus a preliminary completion adjustment of approximately $200-million for working capital. A further $100-million cash remains payable to BHP in six months on November 3, with potential for an additional amount of up to $150-million in a price-linked earnout payable to BHP in the 2024 calendar year.