Anglo American completes EUR 295.5mn sale of Scaw South Africa.

By bne IntelliNews November 27, 2012
Global miner Anglo American said it has completed the sale of Scaw South Africa, an integrated steel maker, to an investment consortium led by South African state investment agency Industrial Development Corporation (IDC) for ZAR 3.4bn (EUR 295.5mn) on a debt and cash free basis. The deal, which was announced in April, follows the sale of Scaws international businesses, Moly-Cop and AltaSteel, to Onesteel in December 2010 for USD 932mn, and is part of Anglos efforts to divest non-core assets. The partners of IDC in the consortium that bought Scaw South Africa are Izingwe Holdings, Shanduka Resources and the Southern Palace Group of Companies.

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