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Mitsui To Sell Equity Shares In Australian Coking Coal Business

August 12, 2022 — 02:36 am EDT

Written by RTTNews.com for RTTNews ->

(RTTNews) - Mitsui & Co., Ltd (MITSF.PK, MITSY.PK), which currently holds 20% stake in Stanmore SMC Pty Ltd jointly with Mitsui & Co. (Australia) Ltd. or "MAL", said Friday that it has decided to sell all of its shares in SMC held by Mitsui and MAL to an Australian subsidiary of Stanmore Resources Limited, a coal mining company and 80% shareholders of SMC, listed on the Australian Stock Exchange engaged in the coal business in Australia, for US$380 million.

Mitsui said it expects to complete the transaction during the fiscal year ending March 2023.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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