On Wednesday, Shares of Peabody Energy Corporation (NYSE:BTU), lost -9.50% to $1.62.
Peabody Energy Corporation confirmed it has reached a sale and purchase agreement with Sekitan Resources Pty, Ltd., a wholly owned partner of Exergen Pty, Ltd., to sell Peabody’s Wilkie Creek Mine and other associated assets in Queensland’s Surat Basin.
The transaction has an aggregate value for Peabody of up to US$75 million counting cash of up to $20 million and assumption of liabilities totaling $55 million. The transaction also releases certain guarantees in place for reclamation activities. Closing is predictable in the third quarter of 2015, subject to satisfaction of certain conditions.
Peabody purchased Wilkie Creek in 2002, and the mine ceased operations in 2013.
Peabody Energy Corporation offers mining of coal. The company operates through Western U.S. Mining, Midwestern U.S. Mining, Australian Mining, Trading and Brokerage, and Corporate and Other segments. It is involved in mining and sale of thermal coal to electric utilities and metallurgical coal for industrial customers.
Shares of Kimco Realty Corporation (NYSE:KIM), inclined 0.68% to $23.84, during its last trading session.
Kimco Realty Corporation, stated that the company’s transaction activity for the second quarter of 2015 totaled more than $500 million. Highlights comprise the acquisition of the remaining 24.7% equity interest in the 14-property Kimco Income Fund II portfolio based on a gross value of $341.1 million and the disposition of 16 shopping centers for a gross sales price of $144.0 million. In addition the company sold 6.4 million shares of SUPERVALU INC. (SVU) common stock for $58.6 million.
Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and administration of neighborhood and community shopping centers.
Finally, Summit Hotel Properties, Inc. (NYSE:INN), ended its last trade with -1.57% loss, and closed at $13.77.
Summit Hotel Properties, declared that it accomplished the acquisition of the Hampton Inn located in Boston (Norwood), Mass. and the Hotel Indigo located in Asheville, N.C. for an aggregate purchase price of $59.0 million.
The Company attained the 139-guestroom Hampton Inn located in Boston (Norwood), Mass. on June 18, 2015 for a total purchase price of $24.0 million and has reached a administration agreement with Interstate Hotels & Resorts. The Company plans to spend about $2.3 million on capital improvements at the property during the latter part of 2016, which will comprise the conversion to a Hampton Inn & Suites by Hilton, and anticipates an estimated forward capitalization rate in the range of 8.0 percent to 8.5 percent based on administration’s current estimate of the hotel’s 2016 net operating income. The Company presently estimates the hotel will contribute about $1.2 million of earnings before interest, taxes, depreciation and amortization (“EBITDA”) through the balance of 2015.
Summit Hotel Properties, Inc., a hotel investment company, engages in acquiring, owning, renovating, repositioning, and asset-managing and selling premium-branded limited-service and select-service hotels in the upscale and midscale without food and beverage segments of the United States lodging industry.
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