Anglo American Thinking About Selling Amapa Iron Stake
Investing News Network - December 19th, 2011
Reuters UK reported Anglo American (LSE:AAL) is considering selling its stake in the Ampapa iron ore operation in Brazil.
Reuters UK reported Anglo American (LSE:AAL) is considering selling its stake in the Ampapa iron ore operation in Brazil.
As quoted in the market news:
Anglo bought control of the Amapa operation in 2008, as part of the $5.5 billion (3.5 billion pounds) Minas-Rio acquisition deal with Brazilian billionaire Eike Batista’s MMX.
An internal valuation has put the Amapa operation’s value at up to $1.5 billion, meaning Anglo’s 70 percent holding would be worth at least $1 billion, according to one of the industry sources with direct knowledge of the matter.