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.

CAJ News

Short URL: http://cajnewsafrica.com/?p=16754

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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