Ivanhoe Australia Ltd. is preparing to sell its interest in Exco Resources Ltd. in a move that could bring in more than $15 million.
The company, which lists its shares on the Toronto and Australian stock exchanges, said Thursday that it had sold 23.3 million shares of Exco to Washington H. Soul Pattinson & Co. Ltd. for $4.6 million, or about 19 cents each. Ivanhoe Australia had been Exco's largest shareholder, with about 22 per cent of its stock, and WHSP was second-largest with 13 per cent as of April.
