Glencore mandates King & Wood Mallesons on bid for Rio Tinto's Coal & Allied - report
14 JUN 2017
King & Wood Mallesons (KWM) has been retained by Glencore [LON: GLEN] as legal adviser on its bid for Rio Tinto’s [ASX:, LON: RIO] Hunter Valley coal assets, the Australian Financial Review reported, without citing sources.
According to the report in the paper’s Street Talk column, KWM previously advised Glencore on its 2012 merger with Xstrata, on the 2016 sale of its Ernst Henry mine, and on the 2016 sale of its rail business to Genesee & Wyoming.
Glencore has offered USD 2.55bn to buy Coal & Allied, rivaling an existing bid from Yancoal [ASX: YAL].
Deutsche Bank is advising Rio Tinto on the asset sale, the item noted.