Anglo sells Chile copper assets to Mitsubishi for $5.39 bn

10th November 2011, Comments 0 comments

Global miner Anglo American on Thursday announced that it had sold a 24.5-percent stake in Chilean copper activities to Japan's Mitsubishi Corporation for $5.39 billion (3.89 billion euros)

"Anglo American plc announces the completion of its sale of a 24.5-percent interest in Anglo American Sur SA (AAS), comprising certain of Anglo American's copper assets in Chile, to Mitsubishi Corporation for $5.39 billion," it said.

Following the deal, Anglo said it would retain a majority 75.5-percent holding in AAS.

"The transaction is unconditional and was completed immediately following agreement of the terms of the transaction," it added.

It comes after Anglo last week clinched a deal to buy 40 percent of De Beers from Africa's Oppenheimer family for $5.1 billion, tightening its grip on the world's biggest diamond firm and taking its stake to up to 85 percent.

© 2011 AFP

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