First Reserve Corp. and AMCI have offloaded Whitehaven Coal shares worth $416 million, The Wall Street Journal reports. The two private equity firms sold 65 million shares of the Australian miner via Credit Suisse to a range of domestic and international institutional and sophisticated investors.
First Reserve slashed its holding in the company to 14.7 percent and AMCI to 9.7 percent, retaining their position as Whitehaven’s two biggest shareholders. The U.S. firms had invested in Whitehaven before its 2007 listing.
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