Anglo American submits proposal for acquisition of Portucel
26 February, 2004
Anglo American plc (“Anglo American”) confirms that it has submitted a proposal for the acquisition of a 30% interest in PORTUCEL-Empresa Produtora de Pasta e Papel,S.A. (“Portucel”), being sold as part of a re-privatisation process by the Government of Portugal.
In addition, Anglo American has entered into an agreement with the Sonae group regarding its interest in Portucel. Under this agreement, Anglo American will be able to acquire a control position in Portucel subject to certain conditions, including its being successful in the privatisation process.
This acquisition would form an important part of Anglo American's paper and packaging division, Mondi, furthering its growth strategy.
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