[av_heading heading=’Anglo American sells stake in South African miner Exxaro’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’1′ color=” custom_font=”][/av_heading]
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05 December 2016
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Anglo american plc – anglo american sells 9.7% interest in exxaro $215m.
Anglo american plc (“anglo american”) has agreed to sell its approximately 35 million ordinary shares, representing a 9.7% interest, and main street 333 proprietary limited (1) has agreed to sell approximately 17 million ordinary shares.
Sale of anglo american’s shares raised gross proceeds of approximately zar3.0 billion (approximately $215 million). Sale price represents a 10% discount to closing price on 30 november 2016.
Placing shares represent approximately 14.7% of exxaro’s issued share capital. Following sale, anglo american no longer holds a direct equity interest in exxaro.
Anglo american intends to use proceeds from placing to reduce net debt.
Source – Reuters
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