2220 GMT - Jefferies is heartened by media reports that Whitehaven Coal's process to sell a 20-30% stake in its recently acquired Blackwater metallurgical coal mine in Queensland is competitive. In a note, analyst Daniel Roden highlights an Australian Financial Review report that there are three potential bidders for the stake, and that a transaction is likely to complete by the end of 2024. "While we do not include this in our valuation, a successful sale for a competitive price would be viewed positively for its ability to de-lever the balance sheet," says Jefferies, noting Whitehaven's net debt totals A$1.4 billion. It values Blackwater at A$5.9 billion. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 21, 2024 18:20 ET (22:20 GMT)
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