Anglo disposes Exxaro stake for $215 million

Anglo platinumGIFT NDOLWANE
JOHANNESBURG, (CAJ News) – ANGLO American has agreed to sale its 9,7 percent interest in Exxaro for US$215 million (over R3 billion).
This is further to the announcement made on November 30. The sale price represents a 10 percent discount to the closing price on the mentioned date.
Also, Main Street 333 Proprietary Limited has agreed to sell approximately 17 million ordinary shares in Exxaro at a price of R87 per share.
Following the sale, Anglo American no longer holds a direct equity interest in Exxaro.
Anglo American intends to use the proceeds from the Placing to reduce net debt.
Citigroup Global Markets Limited acted as sole bookrunner on the Placing.

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Posted by on Dec 1 2016. Filed under Finance, Finance & Banking, Investing, Mining, Mining & Engineering, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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