Anglo American PLC
19 July 2000
Anglo American plc disposes of its shareholding in SA Eagle
Anglo American plc has announced the disposal of another non-mining asset with
the sale of its 25% interest in SA Eagle Insurance Company (SAE) to a
subsidiary of Zurich Financial Services (Zurich), the 58% controlling
shareholder of SAE. Anglo American's stake has been sold for a cash
consideration of R376million ($56million).
Mike King, vice chairman Anglo American plc, says, 'Anglo American has been a
significant shareholder in SA Eagle for many years and we are sorry to be
ending our much valued relationship with the insurance company. We are
however delighted that a company of Zurich's standing is increasing its
investment in South Africa and looking to further opportunities in the
region.'
'This transaction is in line with Anglo American's policy of disposing of non-
mining and non-natural resource businesses and further serves the purpose of
increasing foreign investment in South Africa,' King added.
Queries:
Anglo American
London
Kate Aindow
Tel: +44 207 698 8619
Fax: +44 207 698 8555
Anglo American
Johannesburg
Anne Dunn
Tel: +27 11 638 4730
Cell: +27 82 448 2684
Marion Dixon
Tel: +27 11 638 3001
Cell: +27 82 775 5520
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