Zashvin to acquire an additional 33.3% stake in Jellinbah Group from Anglo American for $1.1bn.

Zashvin, a company engaged in the purchase and sale of real estate and the production of crops, agreed to acquire an additional 33.3% stake in Jellinbah Group, a coal company, from Anglo American, a global mining company, for $1.1bn. "We are delighted to have agreed terms with our JV partner, Zashvin, for the sale of our minority interest in Jellinbah. The cash proceeds of $1.1bn reflect the exceptional quality of the Jellinbah business. Our process to sell the rest of our steelmaking coal business - being the portfolio of steelmaking coal mines that we operate in Australia - is now at an advanced stage and we are on track to agree terms in the coming months," Duncan Wanblad, Anglo American Chief Executive.