Anglo American PLC
05 October 2007
News Release
5th October 2007
Tarmac gives notice to acquire 50% of United Marine Holdings
Tarmac Ltd (Tarmac), a wholly-owned subsidiary of Anglo American plc, has given
notice of the exercise of an option to acquire 50% of United Marine Holdings Ltd
(UMH) from Hanson Quarry Products Europe Limited (Hanson), a subsidiary of
HeidelbergCement AG. UMH is currently a 50/50 joint venture between Tarmac and
Hanson, and the option, which is contained in the shareholders' agreement
relating to UMH, relates to a change of control provision which Tarmac considers
has been triggered by the acquisition of Hanson PLC by HeidelbergCement AG.
Tarmac and Hanson are holding discussions that could lead to additional or
alternative mutually beneficial arrangements in relation to UMH.
UMH is a marine aggregates business, operating dredging ships and loading
wharves on and around the coasts of England and Wales. Its unaudited accounts
for the year ending 31 December 2006 show 50% of net assets to be approximately
£17m, 50% of gross assets to be approximately £29m, and 50% of operating profit
to be approximately £5m. Completion of the transaction will result in Tarmac
holding 100% of UMH.
The consideration, which under the terms of the shareholders' agreement is to be
determined either by negotiation between Hanson and Tarmac, or by reporting
accountants on the basis of the market value of the interest to be acquired,
will be settled in cash, and is not expected to have a material impact on Anglo
American plc.
The managing director of UMH is Kevin Seaman, who has held that position for 7
years.
For further information:
Investor and Media Enquiries
Charles Gordon
Tel: +44 207 968 8933
Anna Poulter
Tel: +44 207 968 2155
Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in platinum group metals and diamonds, with significant interests in
coal, base and ferrous metals, as well as an industrial minerals business and a
stake in AngloGoldAshanti. The Group is geographically diverse, with operations
in Africa, Europe, South and North America, Australia and Asia.
(www.angloamerican.co.uk)
This information is provided by RNS
The company news service from the London Stock Exchange
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