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Global coal M&A activity: March 2016


Global coal M&A activity: March 2016

Report summary

In 2015 announced spend on coal transactions increased by 59% to a total of US$5.1 billion compared with 2014, mainly due to distressed selling in the US and the continued divestment of non-core assets in Australia. We estimate that the total number of global coal M&A deals fell from 45 to 36 in 2015, but more than doubled on average in value to US$182 million. So far in 2016 we have seen four deals with a combined total value of US$736 million.


What's included?

This report includes 2 file(s)

  • Global coal M&A activity: March 2016 PDF - 339.56 KB 5 Pages, 0 Tables, 7 Figures
  • Global Coal M and A activity March 2016.xls XLS - 2.40 MB

Description

This Coal Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

Participants, suppliers and advisors can use it to look at the trends, risks and issues within the coal industry and gain an alternative point of view when making decisions.

Wood Mackenzie is the only coal industry service provider that offers a market outlook integrated with other sector analyses, including macroeconomics, coal supply, steel markets and gas and power markets.

Our coal analysts are based in the markets they analyse. They work with objective, proprietary data to help you maximise your current and future decision making. From market dynamics to trade patterns, we give you confidence in your strategic planning.

  • Executive summary
  • Coal spend up in 2015 but still a long way off historical highs
  • Operating coal assets still favoured
  • Discounts have eased
  • Implied prices continue to lag spot prices
  • Increased M&A activity in 2016

In this report there are 7 tables or charts, including:

  • Executive summary
  • Coal spend up in 2015 but still a long way off historical highs
    • Acquisition spend by region
    • Number of deals by region
  • Operating coal assets still favoured
    • Acquisition spend by status
    • Number of deals by status
  • Discounts have eased
    • Average premiums/discounts paid by region compared with GEM valuation
  • Implied prices continue to lag spot prices
    • Implied long-term (adjusted) coal price (deal by deal) vs. Newcastle export thermal coal spot price
    • Implied long-term (adjusted) coal price (deal by deal) vs. Argus HCC monthly average
  • Increased M&A activity in 2016
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