Anglo American enters into agreement to sell Hudson Bay
08 October, 2004
Anglo American International, S.A., a wholly owned subsidiary of Anglo American plc (“Anglo American”) has entered into an agreement to sell Hudson Bay Mining and Smelting (“Hudson Bay”), to Ontzinc Corporation (“Ontzinc”) for a cash consideration of C$325 million (approximately US$250 million) subject to final adjustments.
The sale is conditional on, inter alia, Ontzinc completing debt and equity financings to fund the acquisition. If such conditions are met, the transaction is expected to be completed towards the end of 2004.
Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource groups. With its subsidiaries, joint ventures and associates, it is a global leader in gold, platinum group metals and diamonds, with significant interests in coal, base and ferrous metals, industrial minerals and paper and packaging. The group is geographically diverse, with operations and developments in Africa, Europe, South and North America, Australia and Asia. (www.angloamerican.co.uk).
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