PE firms sell down Whitehaven Coal stakes
First Reserve Corp., an energy-focused PE investor, and AMCI International have sold A$390 million ($416 million) of shares in Australian miner Whitehaven Coal, prompting a 5% fall in its share price on Wednesday. The partial exits come after Whitehaven failed to find a buyer this year, Reuters reported.
The two firms between them sold 65 million shares, or about 13.15% of the company, at A$6.00 per share. Following the sell down, First Reserve and AMCI remain Whitehaven's two largest shareholders, with...
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