Anglo American media release
Further to the announcement dated 30 November 2016 and via an accelerated book build placing to institutional investors (the “Placing”), Anglo American plc (“Anglo American”) has agreed to sell its approximately 35 million ordinary shares, representing a 9.7% interest, and Main Street 333 Proprietary Limited has agreed to sell approximately 17 million ordinary shares (together, the “Placing Shares”) in Exxaro Resources Ltd (“Exxaro”) at a price of R87 per share.
The sale of Anglo American’s shares raised gross proceeds of approximately R3 billion (approximately $215 million). The sale price represents a 10% discount to the closing price on 30 November 2016.
The Placing Shares represent approximately 14.7% of Exxaro’s issued share capital. Following the sale, Anglo American no longer holds a direct equity interest in Exxaro. Anglo American intends to use the proceeds from the Placing to reduce net debt.
Citigroup Global Markets Limited acted as sole book runner on the Placing.
