AGL - Anglo American completes disposal of Highvel
AGL
ANAAL
AGL - Anglo American completes disposal of Highveld Steel
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB0004901517
Anglo American completes disposal of Highveld Steel
and Vanadium Corporation Limited
Anglo American plc ("Anglo American") is pleased to announce the disposal of its
remaining 29.2% shareholding in Highveld Steel and Vanadium Corporation Limited
("Highveld") to the Evraz Group S.A. ("Evraz") for $238 million. Evraz was
granted a call option, subject to regulatory approvals, over this stake in July
2006, when Anglo American sold 49.8% of Highveld to Evraz and Credit Suisse.
Evraz advised that the requisite regulatory approvals had been obtained and
exercised the option.
This transaction has closed and marks the completion of Anglo American`s
disposal of its interest in Highveld. Since July 2006, Anglo American has
achieved proceeds of $678 million, including the initial payment of $412
million, dividends of $28 million and the final payment of $238 million. Anglo
American`s representatives have resigned from the Highveld board.
Cynthia Carroll, CEO of Anglo American, said "The completion of Anglo American`s
disposal of Highveld represents an important milestone in implementing our
strategy of re-focusing Anglo American on its core mining business."
For further information:
Investor Inquiries
Nick von Schirnding
Tel: +44 207 968 8540
Charles Gordon
Tel: +44 207 968 8933
Anna Poulter
Tel : +44 207 968 2155
Media Inquiries
Kate Aindow
Tel: +44 207 968 8619
Anne Dunn
Tel: +27 11 638 4730
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, gold and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and paper and packaging.
The group is geographically diverse, with operations in Africa, Europe, South
and North America, Australia and Asia. (www.angloamerican.co.uk)
04 May 2007
Sponsor: J.P.Morgan Equities Limited
Date: 04/05/2007 17:30:02 Produced by the JSE SENS Department.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
