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25 July 2014 |
Anglo American enters into binding agreement for the sale of its 50% interest in Lafarge Tarmac to Lafarge |
Further to the announcement on 7 July 2014, Anglo American plc ("Anglo American") announces that it has reached a binding agreement to sell its 50% ownership interest in Lafarge Tarmac Holdings Limited ("Lafarge Tarmac" or the "JV") to Lafarge SA ("Lafarge") for a minimum value of £885 million (approximately $1.5 billion) in cash, on a debt and cash free basis and subject to other customary working capital adjustments.
The terms and conditions of the agreement are consistent with those announced on 7 July 2014.
For further information, please contact:
Media |
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Investors |
UK James Wyatt-Tilby Tel: +44 (0)20 7968 8759 |
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UK Paul Galloway Tel: +44 (0)20 7968 8718 |
Emily Blyth Tel: +44 (0)20 7968 8481 |
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Caroline Crampton Tel: +44 (0)20 7968 2192 |
South Africa Pranill Ramchander Tel: +27 (0)11 638 2592 |
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Sarah McNally Tel: +44 (0)20 7968 8747 |
Notes to editors:
Lafarge Tarmac was formed in January 2013 following the merger of Anglo American and Lafarge's cement, aggregates, ready-mixed concrete, asphalt and asphalt surfacing and maintenance services, and waste services businesses in the United Kingdom. As at 30 June 2014, Anglo American's 50% reported interest in Lafarge Tarmac's gross assets (before deduction of gross liabilities) was £1,382 million, including goodwill, on an unaudited basis. For the period ending 31 December 2013, prior to any Anglo American Group adjustments, the loss before tax attributable to 50% of Lafarge Tarmac was £33 million.
Anglo American is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities - iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals - copper, nickel, niobium and phosphates; and precious metals and minerals - in which we are a global leader in both platinum and diamonds. At Anglo American, we are committed to working together with our stakeholders - our investors, our partners and our employees - to create sustainable value that makes a real difference, while upholding the highest standards of safety and responsibility across all our businesses and geographies. The company's mining operations, pipeline of growth projects and exploration activities span southern Africa, South America, Australia, North America, Asia and Europe.
www.angloamerican.com
