| Tue 7 Jun 2005, 11:51 | | Anglo American plc - Anglo American disposes of Bo |
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Anglo American plc - Anglo American disposes of Boart Longyear
Anglo American plc
(Incorporated in the United Kingdom)
Registration number: 3564138
Share code: AGL
ISIN: GB0004901517
(the `Company`)
Anglo American disposes of Boart Longyear
Anglo American plc (`Anglo American`) announces that it has agreed to sell the
Boart Longyear Group, part of Anglo Ferrous Metals and Industries, to private
equity group Advent International plc for an enterprise value of US$545 million.
The consideration is payable in cash.
On 2nd March 2005, Anglo American announced that it had received a number of
approaches for the purchase of the Boart Longyear Group, a leading provider of
drilling services, tools and equipment for the natural resource, construction
and quarrying industries and industrial markets worldwide, and had, accordingly,
undertaken a formal process to determine whether shareholder value would be
maximised by the sale of the group.
Together with the sale of Wendt (part of the Boart Longyear Group of
businesses), which was announced on 31st March 2005, the total enterprise value
achieved from the process amounts to US$635 million, which will be used for
general corporate purposes. In 2004, Boart Longyear reported EBIT of US$67
million.
Tony Trahar, CEO of Anglo American said, `This transaction is part of our
ongoing strategy of optimising our asset base.`
For further information:
Anglo American - London
Investor Relations Media Relations
Charles Gordon Kate Aindow
Tel: +44 207 968 8933 Tel: +44 207 968 8619
Anglo American - Johannesburg
Investor Relations Media Relations
Anne Dunn Daniel Ngwepe
Tel: +27 11 638 4730 Tel: +27 11 638 2267
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)
Sponsor:
J P Morgan Equities Limited
Date: 07/06/2005 11:30:02 AM
Produced by the JSE SENS Department
