Jefferies Reiterates Buy on Freeport-McMoran (FCX) Following Sales of Tenke Fungurume Stake
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Freeport-McMoRan Completes Sale of Interest in TF Holdings Limited for $2.65 Billion in Cash
November 16, 2016 4:10 PM ESTPHOENIX--(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the indirect sale of its 70 percent interest in TF Holdings Limited (TFHL) to China Molybdenum Co., Ltd. for $2.65 billion in cash. TFHL is a Bermuda holding company that indirectly owns an 80 percent interest in Tenke Fungurume Mining S.A. (Tenke) located in the Democratic Republic of Congo. FCX... More
