Johannesburg - Anglo American had sold its remaining 29.2 percent stake in Highveld Steel and Vanadium to the Evraz Group for $238 million (R1.6 billion), the company said yesterday.
Anglo last July sold 49.8 percent of Highveld to Evraz and Credit Suisse as part of its plans to focus on mining. Evraz was granted a call option, subject to regulatory approvals, over the 29.2 percent stake last July. Evraz had advised that the requisite regulatory approvals had been obtained.
This deal had been sealed and marks the completion of Anglo's disposal of its interest in Highveld. "The completion of Anglo American's disposal of Highveld represents a milestone in implementing our strategy of refocusing Anglo American on its core mining business," said Anglo chief executive Cynthia Carroll. - Reuters