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Anglo American sells 9.7% stake in Exxaro Resources

Staff Writer | December 1, 2016
Anglo American has sold 35m shares, or a 9.7% interest in Exxaro Resources for 87 South African rand per share, raising gross proceeds of around ZAR3bn ($215m).
Anglo American
Exploration   To use the proceeds from the sale
The sale price represents a 10% discount to the closing price on Wednesday.

Anglo, which will no longer hold a direct equity interest in Exxaro, plans to use the proceeds from the sale to reduce net debt.


 

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