Anglo American is expected to finalize a $1 billion-plus sale of its prized Australian coal assets to a group headed by private equity group Apollo Global Management in the coming weeks, three sources with knowledge of the deal said.
“Anglo American and Apollo entered into a two-week exclusivity period due to expire next week,” one of the sources in continuous contact with advisers to the deal, said. “We think it is going to go to Apollo next week.”
Another source, however, said it would still be a matter of weeks before any deal is finalised.
Anglo American in Australia declined to comment. Apollo did not immediately respond to a request for comment.