Anglo American To Sell 9.7% Interest In Exxaro

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( - Anglo American plc (AAUKY.PK, AAL.L) said that it plans to sell its 9.7% shareholding of approximately 35 million ordinary shares in the capital of Exxaro Resources Ltd as part of a share sale transaction alongside Exxaro's controlling black economic empowerment shareholder, Main Street 333 Proprietary Limited, which also intends to sell about 17 million ordinary shares in Exxaro.

The share sale of the approximately 52 million ordinary shares in aggregate in the capital of Exxaro, which represents approximately 14.7% of Exxaro's issued share capital, is intended to be effected via an accelerated bookbuild placing to institutional investors. The Placing is open with immediate effect.

Following completion of the Placing, Anglo American will no longer hold a direct equity interest in Exxaro. Anglo American intends to use the proceeds from the Placing to reduce net debt.

This article appears in: News Headlines
Referenced Symbols: AAUKY , EXXAY

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