09:51 AM EST - Teck Cominco Ltd. : says it has struck a deal to sell about 27.6 million units of Fording Canadian Coal Trust to a Canadian bank in a move to raise $2.3 billion in cash to help finance its takeover of Fording's coal mining assets. Teck announced late Monday it will sell the units to the unidentified bank at US$83.30 each for a total of nearly $2.3 billion. The company had already struck a separate deal on the rest of its Fording shareholding, about 1.85 million units, with the Ontario Teachers Pension Plan Board. That will provide another US$105 million for Teck. Teck Cominco Ltd.
shares T.TCK.B are trading up $6.81 at $23.17.
