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BRIEF-Rio Tinto reconfirms Yancoal Australia as preferred buyer of its thermal coal assets in Australia
June 20, 2017 / 9:31 AM / 2 months ago

BRIEF-Rio Tinto reconfirms Yancoal Australia as preferred buyer of its thermal coal assets in Australia

June 20 (Reuters) - Rio Tinto Ltd

* Rio Tinto reconfirms Yancoal as the preferred buyer of Coal & Allied Industries

* recommendation follows consideration by board of proposal from Glencore

* ‍board is recommending Yancoal's proposal​

* "believe yancoal's offer to purchase our thermal coal assets for $2.45 billion offers best value and greater transaction certainty for shareholders."

* ‍expects transaction to complete in Q3 of 2017​ Source text for Eikon: Further company coverage:

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