BHP Billiton Shareholders to Vote on Demerger in May 2015

BHP Billiton Limited (ASX:BHP,NYSE:BHP,LSE:BLT) is proposing to spin off its aluminium, coal, manganese and silver assets into a separate company. Stakeholders will vote on the proposed demerger in May 2015.

As quoted in the release:

The world’s biggest miner said it has won Australian Foreign Investment Review Board and tax office approval for the demerger, is confident of securing remaining regulatory approvals and would release full details of the spin-off company, yet to be named, in March…

The spin-off company, which analysts value at around $16 billion, will bundle BHP’s aluminium, manganese, Cerro Matoso nickel in Colombia, South African energy coal, some Australian metallurgical coal assets and the Cannington silver, lead and zinc mine.

Chairman Jac Nasser stated:

We have made very good progress in recent weeks and I am pleased to confirm that the demerger is on track.

Click here to view the full release.