Insight
Global coal M&A activity: March 2016
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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.
Table of contents
- 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
Tables and charts
This report includes 7 images and tables including:
- Acquisition spend by region
- Number of deals by region
- Acquisition spend by status
- Number of deals by status
- Average premiums/discounts paid by region compared with GEM valuation
- 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
What's included
This report contains:
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