Anglo American sells 9.7% stake in Exxaro ResourcesStaff 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).
Exploration To use the proceeds from the sale
Anglo, which will no longer hold a direct equity interest in Exxaro, plans to use the proceeds from the sale to reduce net debt. ■