Australian industrial group Arrium has sold its Moly-Cop unit for $1.2 billion to private equity firm American Industrial Partners, a spokesman for KordaMentha told Reuters.
The deal is expected to be settled in January. Moly-Cop, which makes steel balls to grind ore, operates mostly in the United States and Latin America.
(Reporting by James Regan; Editing by Richard Pullin)
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Source: Reuters.com