Anglo American sells 9.7% stake in Exxaro Resources
Anglo American has sold 35m shares, or a 9.7% interest in Exxaro Resources for 87 South African rand per share, raising gross proceeds of around ZAR3bn ($215m).
Anglo American
2,502.00p
17:15 28/06/24
0.48%
12.00p
FTSE 100
8,164.12
17:10 28/06/24
n/a
n/a
FTSE 350
4,495.85
17:14 28/06/24
n/a
n/a
FTSE All-Share
4,451.92
16:54 28/06/24
n/a
n/a
Mining
10,379.34
17:14 28/06/24
-0.22%
-22.64
The sale price represents a 10% discount to the closing price on Wednesday.
Anglo, which will no longer hold a direct equity interest in Exxaro, plans to use the proceeds from the sale to reduce net debt.
At 0840 GMT, the shares were up 2.5% to 1,215p.