Key Developments: Anglo American PLC (AGLJ.J)

AGLJ.J on Johannesburg Stock Exchange

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Anglo American PLC Completes Sale Of Scaw South Africa (Pty) Ltd
Monday, 26 Nov 2012 02:00am EST 

Anglo American PLC announced the completion on November 23, of the sale of Scaw South Africa (Pty) Ltd. and related companies for a total consideration of ZAR3.4 billion on a cash and debt free basis. Anglo American announced on April 24, 2012 the sale of Scaw South Africa, a South African based integrated steel maker, to an investment consortium led by the Industrial Development Corporation of South Africa (IDC) and Anglo American's partners in Scaw South Africa, being Izingwe Holdings (Pty) Limited, Shanduka Resources (Pty) Limited and the Southern Palace Group of Companies (Pty) Limited.  Full Article

Anglo American PLC And Lafarge SA Announces Sale Of Portfolio Of Tarmac And Lafarge Construction Materials Operations In UK To Mittal Investments
Friday, 16 Nov 2012 02:00am EST 

Anglo American PLC and Lafarge SA announced that they have agreed to sell a portfolio of Tarmac and Lafarge construction materials operations in the UK and Tarmac's 50% ownership interest in Midland Quarry Products Limited (MQP) to Mittal Investments, the private investment vehicle of the Lakshmi N. Mittal family. The consideration paid by Mittal Investments for the assets is GBP272 million including up to GBP30 million contingent on the performance of the underlying assets over the next three years. In addition, an estimated amount of GBP13 million, which relates to working capital of the divested assets not transferring with the business, will be released as funding to the 50:50 joint venture between Lafarge and Tarmac. The divestments, which are conditional upon regulatory approval, comprise a cement plant in Hope, Derbyshire, with a capacity of 1.4 million tonnes, and related depots; a network of 172 ready mix concrete plants; five aggregates quarries, two asphalt plants, one marine aggregates wharf and one rail-linked aggregates depot and the sale of Tarmac 50% ownership interest in MQP, which is also subject to regulatory approval and a right of pre-emption in favour of Hanson Quarry Products Europe Limited. Completion of the JV is expected in early 2013.  Full Article

Glencore International PLC Among Suitors For Anglo American PLC's Brazil Amapa Stake-Reuters
Friday, 2 Nov 2012 11:40am EDT 

Reuters reported that at least four suitors including Glencore International PLC are in the bidding process for miner Anglo American PLC's majority stake in the Amapa iron ore operation in northern Brazil. Anglo bought control of Amapa in 2008 from Brazilian billionaire Eike Batista's MMX as part of the $5.5 billion Minas Rio acquisition. But the asset has been deemed non-core and has been on the block since last year. Other bidders in the current second phase of the sale process include Russian steelmaker Severstal' OAO, privately owned mining group Zamin, which was founded by Indian commodities investor Pramod Agarwal and already owns assets in Brazil, and Australia's Centaurus Metals Ltd, also already working in the country.  Full Article

Anglo American PLC's Chief Executive To Step Down
Friday, 26 Oct 2012 02:00am EDT 

Anglo American PLC announced that Cynthia Carroll has decided to step down as Chief Executive, with the Board's agreement. Cynthia will remain in her post until a successor has been appointed and an appropriate transition has taken place. Cynthia Carroll was appointed to the Anglo American Board in January 2007 and formally took over as Chief Executive in March 2007. The process of recruiting Cynthia's successor will now commence and will be led by Sir John Parker, who will also actively support the transition when the new Chief Executive has been appointed.  Full Article

Anglo American plc Issues EUR750,000,000 2.500% Guaranteed Notes
Tuesday, 18 Sep 2012 09:28am EDT 

Anglo American plc announced that Final Terms dated September 17, 2012 relating to the issue by Anglo American Capital plc of EUR750,000,000 2.500 %. Guaranteed Notes due September 18, 2018 guaranteed by Anglo American plc (the Notes), under the $10,000,000,000 Euro Medium Term Note Programme (the Programme).  Full Article

Anglo American plc Completes Onward Sale Of AA Sur 4.1% Shareholding
Friday, 14 Sep 2012 09:26am EDT 

Anglo American plc announced the completion of its onward sale of a 4.1% shareholding in Anglo American Sur (AA Sur) to a CorporaciĆ³n Nacional del Cobre de Chile (Codelco) and Mitsui & Co., Ltd. (Mitsui) joint venture company controlled by Codelco (the Codelco/Mitsui joint venture) following clearance of the transaction by competition authorities in Brazil. Under the terms of the 23 August 2012 agreement, Anglo American has completed the onward sale of 4.1% of the shares in AA Sur for a cash consideration of approximately $890 million.  Full Article

Anglo American plc And Corporacion Nacional del Cobre de Chile Reach Agreement In Respect To Anglo American Sur; Codelco And Mitsui Joint Venture To Acquire 29.5% Stake In Anglo American Sur
Thursday, 23 Aug 2012 09:33am EDT 

Anglo American plc (Anglo American) announced that together with Corporacion Nacional del Cobre de Chile (Codelco), with assistance from their respective partners, Mitsubishi Corporation and Mitsui & Co., Ltd. (Mitsui) and within the conciliation proceeding provided for by the 14th Civil Court of Santiago, have settled their respective claims in relation to Anglo American Sur (AA Sur). Anglo American retains control of AA Sur, reducing its 75.5% shareholding to 50.1%. A Codelco and Mitsui joint venture company controlled by Codelco (the Codelco/Mitsui joint venture) will acquire a 29.5% interest in AA Sur through the following two transactions: a 24.5% shareholding in AA Sur for net cash consideration of USD 1.7 billion, representing a consideration of USD 1.8 billion, adjusted for dividends paid in relation to the shareholding since January 1, 2012; a 5% shareholding in AA Sur (comprising 0.9% from Anglo American and 4.1% from Mitsubishi) for total cash consideration of USD 1.1 billion. Completion of the transactions is subject to the injunction being lifted by the 14th Civil Court of Santiago for which the appropriate filings are being made on August 23, 2012.  Full Article

Anglo American plc Completes Acquisition Of De Beers Shareholding
Thursday, 16 Aug 2012 11:17am EDT 

Anglo American plc announced the completion of its acquisition of a 40% shareholding in De Beers from CHL (representing the Oppenheimer family interests), thereby increasing Anglo American's shareholding in De Beers to 85%. Under the terms of the November 2011 agreement between Anglo American and CHL, Anglo American has paid a total cash consideration of $5.2 billion, comprising the agreed purchase price of $5.1 billion and a number of adjustments as provided for under the agreement.  Full Article

Anglo American plc's CEO Faces Shareholder Pressure To Quit-Reuters
Sunday, 12 Aug 2012 09:40pm EDT 

Reuters reported that Anglo American plc's Chief Executive (CEO), Cynthia Carroll, is under pressure to step down from shareholders who have demanded an immediate change of management, the Telegraph reported. Several of the miner's biggest institutional investors have contacted Sir John Parker, the Chairman to ask him to start the search for a new Chief Executive because they have lost confidence in her strategy and leadership following disappointing results.  Full Article

Anglo American plc To Increase Stake in De Beers Group to 85%-Regulatory News Service
Tuesday, 31 Jul 2012 10:02am EDT 

Regulatory News Service reported that Anglo American plc will acquire an 40% interest in De Beers Group for a total cash consideration of USD 5.1 billion.  Full Article


Anglo American seeks compensation from Venezuela

CARACAS - Anglo American is seeking compensation from Venezuela at a World Bank tribunal over the 2012 cancellation of mining concessions by late president Hugo Chavez's government.

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