Current IEP Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million
Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on its previously announced sale of Ferrous Resources Limited to Brazilian mining company Vale S.A. for a total consideration of $550 million, including repaid indebtedness.

Under generally accepted accounting principles (GAAP), Icahn Enterprises, which owns 77% of Ferrous Resources, will recognize a book gain of approximately $264 million.

Icahn Enterprises acquired a majority stake in Ferrous Resources – a Brazilian iron mining company – in 2015, at a time when iron ore prices ha...

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