Mitsui to hang on to its Kestrel stake

JAPANESE giant Mitsui will not sell its 20% stake in the Kestrel longwall mine in Queensland to private equity firm EMR Capital for US$560 million, instead opting to form an operating joint venture with EMR.

Mitsui wants to retain its 20% stake in the Kestrel longwall mine in Queensland.

05 June 2018
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Mitsui would have received the $560 million as the "tag-along" valuation for the minority stake it owns after EMR paid Rio Tinto $2.25 billion for the 80% share of Kestrel.

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