Anglo American PLC
10 July 2000
FURTHER DISPOSAL OF NON CORE ASSET ANNOUNCED
Following the announcement by Aveng Limited ('Aveng') today that it intends to
make an offer for the whole of the issued share capital of LTA Limited
('LTA'), Anglo American plc ('AA plc'), which has a 68% interest in LTA, has
given an irrevocable undertaking to accept the offer and to receive the cash
consideration of R46 per share, amounting to approximately R900 million ($130
million).
LTA is engaged in engineering, construction, project management and
development projects throughout Africa, Australasia and the Pacific Islands,
south east Asia and the Middle East, focusing on mining, petrochemicals and
infrastructure.
Aveng is a South African based construction company and also has substantial
interests in cement manufacture and steel distribution.
The sale is in line with AA plc's stated intention to accelerate and widen its
disposal programme of its remaining businesses in the Industries division.
So far this year AA plc has sold interests in Johnnic, Ventron and Altron, NF
Die Cast, Samcor and McCarthy Retail for considerations aggregating in excess
of $200 million.
Queries:
Anglo American
London: Nick von Schirnding London: Kate Aindow
Tel: +44 207 698 8540 Tel: +44 207 698 8567
Fax: +44 207 698 8555 Fax: +44 207 698 8555
Anglo American
Johannesburg: Anne Dunn Johannesburg: Marion Dixon
Tel: +27 11 638-4730 Tel: +27 11 638-3001
Cell: + 27 82 448 2684 Cell: +27 11 82 775 5520
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