In today’s briefing:
- Whitehaven Nail the Landing, Patriot look to the Future

Whitehaven Nail the Landing, Patriot look to the Future
- Blackwater sell down to Nippon and Jfezenhe Steel for US 1.08 billion upfront
- Deal includes selling 30% of Blackwater, reducing net debt by 150 million and potential future contingent payments
- Transaction costs and transition costs higher than expected, but deal significantly impacts balance sheet and future cash flow
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