Anglo American Announces Intention To Sell Stake I
Anglo American Announces Intention To Sell Stake In Anaconda Nickel
Release Date: 21/01/2003 09:00:11 Code(s): AGL
Anglo American announces intention to sell stake in Anaconda Nickel
Anglo American Plc
JSE Code: AGL
ISIN Code: GB0004901517
(The "Company")
News Release
21 January 2003
Anglo American announces intention to sell stake in Anaconda Nickel
Anglo American plc ("Anglo American") announces that it has signed a Pre-Bid
Agreement with a wholly-owned subsidiary of MatlinPatterson Global Opportunities
Partners LP ("MatlinPatterson") in terms of which, subject to satisfaction of
the conditions to a proposed takeover offer by MatlinPatterson for Anaconda
Nickel Limited ("Anaconda"), Anglo American will dispose of its entire rights
entitlement and substantially all of its shareholding in Anaconda for a total
consideration of approximately A$23.9 million (approx. US$14.0 million).
It is Anglo American`s present intention, in the absence of a higher offer, to
accept the MatlinPatterson offer for the balance of its shareholding should the
MatlinPatterson offer go unconditional, which would realise a further A$4.6
million (approx. US$2.7 million) at the current offer price. However, Anglo
American has no agreement or understanding with MatlinPatterson to that effect.
Under the Pre-Bid Agreement (the terms of which are summarised in
MatlinPatterson`s announcement of 21 January 2003), Anglo American will also
have the opportunity to accept a higher offer if made in certain circumstances.
For further information:
Anglo American - London
Investor Relations Media Relations
Nick von Schirnding Kate Aindow
Tel: +44 207 698 8540 Tel: +44 207 698 8619
Anglo American - Johannesburg
Investor Relations Media Relations
Anne Dunn Marion Dixon
Tel: +27 11 638 4730 Tel: +27 11 638 3001
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 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)
Date: 21/01/2003 09:00:00 AM Produced by the JSE SENS Department
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