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Mitsui To Sell Equity Shares In Australian Coking Coal Business

Mitsui & Co., Ltd (MITSF.PK,MITSY.PK), which currently holds 20% stake in Stanmore SMC Pty Ltd jointly with Mitsui & Co. (Australia) Ltd. or "MAL", said Friday that it has decided to sell all of its shares in SMC held by Mitsui and MAL to an Australian subsidiary of Stanmore Resources Limited, a coal mining company and 80% shareholders of SMC, listed on the Australian Stock Exchange engaged in the coal business in Australia, for US$380 million.

Mitsui said it expects to complete the transaction during the fiscal year ending March 2023.

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