Edition:
India

Freeport-Mcmoran Announces Agreement To Sell Portion Of Cobalt Business


Friday, 24 May 2019 

May 23 (Reuters) - Freeport-McMoRan Inc ::FREEPORT-MCMORAN ANNOUNCES AGREEMENT TO SELL PORTION OF COBALT BUSINESS.FREEPORT-MCMORAN INC - DEAL FOR $150 MILLION, PLUS WORKING CAPITAL AT TIME OF CLOSE..FREEPORT-MCMORAN INC - FCX WILL SEPARATE ITS COBALT BUSINESS PRIOR TO COMPLETING TRANSACTION.FREEPORT-MCMORAN INC - FCX EXPECTS TO RECORD A GAIN ON TRANSACTION..FREEPORT-MCMORAN - UMICORE WILL ACQUIRE REFINERY AND CATHODE PRECURSOR BUSINESS, WHICH REPRESENTS ABOUT 60 PERCENT OF REFINERY'S HISTORICAL REVENUES.FREEPORT-MCMORAN INC - Q1 2019 EARNINGS AND CASH FLOW CONTRIBUTION FROM ASSETS BEING SOLD WAS INSIGNIFICANT TO FCX.