Anglo American sells its Australian coal mines to Dhilmar for up to $3.875bn

Dhilmar will pay $2.3bn at completion and up to $1.575bn in a price-linked earn-out over five years. Anglo will use the cash to cut debt and keeps pursuing arbitration against Peabody, which walked away from the same assets in 2025. Completion is expected by early 2027.

Why it matters. After a failed sale, a seller often accepts a structure with more contingent value to get the deal done.

Source

Anglo American

In the course

Module 9: The M&A process