American Industrial Partners to buy Australia's Moly-Cop for $1.2b
American Industrial Partners (AIP) will buy Moly-Cop, the mining consumables division of struggling Australian mining and materials giant Arrium for an enterprise value of $1.23 billion.
Arrium, which was spun-off from BHP Billiton in 2000, entered voluntary administration in April with outstanding debts of around A$2.8 billion ($2.1 billion). Before the global financial crisis it achieved...
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