25th Oct 2015 17:34
LONDON (Alliance News) - Anglo American PLC is understood to have commenced the process of trying to find buyers for its GBP1 billion Brazil-based niobium and phosphates business, The Sunday Times reported.
Mark Cutifani, Anglo's chief executive, is thought to have started sounding out advisers about selling the business, though any sale is not expected to kick off for a couple of months, the paper said.
It would follow a string of sales by Cutifani has he attempts to cut Anglo's debt pile in order to ward off potential credit downgrades by ratings agencies.
http://www.thesundaytimes.co.uk/sto/business/Industry/article1623616.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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