Anglo American Sales Scaw South Africa

Bloomberg reported Anglo American Plc (LSE:AAL)  agreed to sell Scaw South Africa Ltd. for 3.4 billion rand to complete its divestment.

As quoted in the market news:

Industrial Development Corp., a state lender known as IDC, and a group of Anglo’s partners in the local steelmaker, will buy Anglo’s 74 percent stake, it said in a statement today. The companies include Shanduka Resources (Pty) Ltd., Izingwe Holdings (Pty) Ltd. and Southern Palace Group of Companies (Pty) Ltd., London-based Anglo said.

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