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BRIEF-Freeport-Mcmoran Announces Agreement To Sell Portion Of Cobalt Business

Published 2019-05-23, 05:07 p/m
© Reuters.  BRIEF-Freeport-Mcmoran Announces Agreement To Sell Portion Of Cobalt Business

May 23 (Reuters) - Freeport-McMoRan Inc FCX.N :

* 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

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