Anglo American Plc Disposes Of Its Investment In A
ANGLO AMERICAN PLC
Share Code: AGL
ISIN Code:GB0004901517
Anglo American plc ("AA plc") announces that its wholly-owned subsidiary,
Mondi Brazil, has entered into an agreement to dispose of its 12.3% interest
(see note 1) (28% voting interest) in Aracruz Celulose, the Brazilian
eucalyptus pulp company, to an affiliate of Votorantim Celulose e Papel
("VCP") for a cash consideration of US$ 370 million.
Andrew Thompson, Chairman of Mondi Brazil, said "We evaluated the options
for our investment in Aracruz and concluded that it was in the interests of
our shareholders to sell our stake on these terms. We have valued being
party to the development of Aracruz during our time as voting shareholders
with board representation. We have been particularly impressed by the
vision and leadership of Erling Lorentzen as founder and Chairman. We are
confident that VCP will be a supportive new voting shareholder and we wish
both them and Aracruz success in the future."
Raul Calfat, CEO of VCP, said "This transaction represents an important step
for VCP in strengthening our position in the global pulp and paper markets.
This also enhances our status as one of the lowest cost producers with
outstanding services to our customers. We are very pleased with this
opportunity which we believe will create substantial value for our
shareholders."
Note 1: Total interest excluding treasury stock
For further information, please contact:
Anglo American - London
Investor Relations Media Relations
Nick von Schirnding Kate Aindow
Tel: +44 20 7698 8540 Tel: +44 20 7698 8619
Anglo American - Johannesburg
Investor Relations Media Relations
Anne Dunn Marion Dixon
Tel: +27 11 638 4730 Tel: +27 11 638 3001
Background notes for editors
Anglo American
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 gold, platinum group metals and diamonds, with significant
interests in coal, base and ferrous metals, industrial minerals and forest
products. The group is geographically diverse, with operations in Africa,
Europe, South and North America and Australia. (www.angloamerican.co.uk)
Votorantim Celulose e Papel
VCP is one of the largest pulp and paper companies in Latin America focusing
on market pulp and printing papers. Listed both in Sao Paulo and on the
NYSE, VCP is currently undertaking an expansion project that will increase
its nominal capacity to 1.330 million tonnes of pulp and 600,000 tonnes of
paper. (www.vcp.com.br)
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