Anglo sells Scaw South Africa for US$440m, completes Scaw Metals disposal

Anglo American plc reported it offered Scaw South Africa (Pty) Ltd, an built-in steelmaker, for R3.4 billion (US$440 million), finishing its US$1.four billion divestment of Scaw Metals Team.Stone Crusher

The sale to an expense consortium, led by the Industrial Development Corp and Anglo's partners in Scaw South Africa, follows the disposal of Scaw’s international organizations - Moly-Cop and AltaSteel - to Onesteel in December 2010 for US$932 million.

"The sale of Scaw brings the whole introduced proceeds from our divestments of non-core belongings to US$3.7 billion due to the fact 2010," claimed Anglo's Chief Govt Cynthia Carroll.Stone Crusher Plant

The transaction is predicted to be completed this yr topic to regulatory approval.