Financially troubled Arch Coal wants to sell its stake in MillenniumBulk Terminals in Washington state to LighthouseResources.Arch, which is in chapter 11 bankruptcy protection, petitionedthe court on 26 May for approval to sell its 38pc stakein the terminal to Lighthouse, which is now the joint developerwith Arch in the Millennium project. Under an agreement accompanyingthe sale, Arch would still hold an option for up toa 10pc share of the terminal’s capacity for the first 10 years ofoperation, with the ability to extend it for another five years.
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