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Arrium sells Moly-Cop to American Industrial Partners for $1.2bn

( November 4, 2016, 03:18 GMT | Insight) -- Australian industrial group Arrium, which entered voluntary administration earlier this year, has signed a deal to sell its Moly-Cop unit to US private equity firm American Industrial Partners for $1.2 billion, The Australian and Reuters report. Australian industrial group Arrium, which entered voluntary administration earlier this year, has signed a deal to sell its Moly-Cop unit to US private equity firm American Industrial Partners for $1.2 billion, The Australian and Reuters report. Moly-Cop, which operates mostly in the United States and Latin America, holds about 80 percent of the global market for steel balls used to grind ore. The deal is expected to be settled in January. ...

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