Anglo American completes AA Sur shareholding sales

RNS Number : 7993K

Anglo American PLC

24 August 2012

 

24 August 2012
Anglo American completes sales of AA Sur 25.4% shareholding to Codelco/Mitsui JV

Anglo American plc ("Anglo American") announces the completion of its sales of a 25.4% shareholding in Anglo American Sur ("AA Sur") to a Corporación Nacional del Cobre de Chile ("Codelco") and Mitsui & Co., Ltd. ("Mitsui") joint venture company controlled by Codelco ("the Codelco/Mitsui joint venture") following the lifting of the injunction by the 14^th Civil Court of Santiago yesterday.

Under the terms of the 23 August 2012 agreement, Anglo American's sale of 25.4% of the shares in AA Sur has been completed via the following two transactions:

·      the Codelco/Mitsui joint venture has paid a net cash consideration of $1.7 billion for a 24.5% shareholding in AA Sur, representing a consideration of $1.8 billion, adjusted for dividends paid in relation to the shareholding since 1 January 2012; and

·      the Codelco/Mitsui joint venture has paid a cash consideration of approximately $210 million to Anglo American for a 0.9% shareholding in AA Sur.

Under the terms of the agreement announced on 23 August 2012, Anglo American has also completed the acquisition from Mitsubishi of a 4.1% shareholding in AA Sur for a cash consideration of approximately $890 million and has agreed to on sell that shareholding to the Codelco/Mitsui joint venture upon clearance from the competition authorities in Brazil.

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby Tel: [phone]		UK Caroline Crampton Tel: [phone]
Emily Blyth Tel: [phone]
South Africa Pranill Ramchander Tel: [phone]		South Africa Nicholas Gordon Tel: [phone]

 

Notes to editors:

Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals - copper and nickel; and precious metals and minerals - in which it is a global leader in both platinum and diamonds.  Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations, extensive pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com

 

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