Prospective partners woo Teck for stake in coal unit

Vancouver-based Teck Resources may still sell a 20% stake in its coal unit, but only to a partner that brings some strategic benefit of its own to the table, and for “a very full and fair price”, CEO Don Lindsay said on Friday.

And after announcing a C$1,74-billion private placement to China Investment Corp (CIC)and outlining plan to cut Teck’s bank debt to below $1-billion by year end, Lindsay can afford to be picky, especially with potential buyers for the coal stake knocking on the door.

Read more….