Anglo completes MMX deal in Brazil
RIO DE JANEIRO, Aug 5 (Reuters) - Miner Anglo American Plc (AAL.L) concluded its purchase of Brazilian iron ore firm IronX IRON3.SA from billionaire Eike Batista for about 5.5 billion reais ($3.5 billion) on Tuesday, both companies said in a statement.
Three weeks ago, Anglo said it was waiting for further information after Brazilian police searched and took documents from the home and offices of Batista, who controls MMX Mineracao (MMXM3.SA).
But it later said it planned to go ahead with the purchase after Batista offered to cover any losses from the investigation into possible fraud involved in the concession of a railroad in the northern state of Amapa.
Anglo, the world's fourth-biggest mining group by market capitalisation, acquired 63.3 percent of IronX for 28.15 reais per share, compared to its closing price of 26.75 on Tuesday.
MMX agreed in January to sell Anglo control of two iron ore projects for about $5.5 billion.
Anglo has already bought a 49 percent stake in the MMX Miinas-Rio mine and pipeline project. The MMX deals would help boost Anglo's annual output of iron ore to 150 million tonnes by 2017 from 32.4 million last year.
(Reporting by Daniela Machado; writing by Stuart Grudgings, editing by Richard Chang)
