Teck Resources, a leading Canadian mining company, has agreed to sell its steelmaking coal business, Elk Valley Resources, through a sale of a majority stake to Glencore plc for an implied enterprise value of $9 billion, and a sale of a minority stake to Nippon Steel Corporation. The transaction will allow Teck to realize value from its copper growth portfolio.
S&C is advising the special committee of the Board of Directors of Teck along with Blake, Cassels & Graydon LLP. The S&C team representing the special committee of the Board of Directors of Teck includes Sergio Galvis, Lauren Boehmke and Jon Hannah.
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