GIFT NDOLWANE
JOHANNESBURG – ANGLO American has agreed to sale its 9,7 percent interest in Exxaro for US$215 million (over R3 billion).
This is further to the announcement made on November 30. The sale price represents a 10 percent discount to the closing price on the mentioned date.
Also, Main Street 333 Proprietary Limited has agreed to sell approximately 17 million ordinary shares in Exxaro at a price of R87 per share.
Following the sale, Anglo American no longer holds a direct equity interest in Exxaro.
Anglo American intends to use the proceeds from the Placing to reduce net debt.
Citigroup Global Markets Limited acted as sole bookrunner on the Placing.

– Guardian