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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BHP Group Plc | NYSE:BBL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 64.18 | 0 | 01:00:00 |
SYDNEY--BHP Billiton Ltd. (BHP) said Tuesday it may overhaul its portfolio further to focus on up to five key commodities, following a media report that it's considering a 20 billion Australian dollar (US$19 billion) spin off of less-profitable assets.
BHP has appointed Goldman Sachs to advise the company on options that include a possible demerger of non-core assets such as aluminum, bauxite and nickel, the Australian Financial Review reported on its website, citing unnamed sources.
"We continue to actively study the next phase of simplification, including structural options, but will only pursue options that maximize value for BHP Billiton shareholders," BHP said in a statement to the Australian Securities Exchange.
The Melbourne-based company said focusing on iron ore, copper, coal and petroleum would generate higher increases in cash flow and better returns on investment. It also said potash could become a major business.
BHP has already sold assets in recent months, including its diamonds business, as it responds to a downturn in global commodity prices.
Write to Ross Kelly at ross.kelly@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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