With $3.1 billion in fresh funding, Peabody moves operations HQ to Australia
Platts reports that the global operations headquarters of US giant Peabody Energy will be relocated to Brisbane following the acquisition of Australia's Macarthur.
Peabody raised $3.1 billion with the sale of senior notes on Monday and now owns 77.6% of Macarthur after ArcelorMittal pulled out of its joint $5 billion bid for the coking coal producer, just days after the target's top shareholder accepted the offer. Peabody is the world's largest private-sector coal company with 2010 sales of 246 million tons and nearly $7 billion in revenues.