7th Jun 2005 10:30
Anglo American PLC07 June 2005 News Release 7 June 2005 Anglo American disposes of Boart Longyear Anglo American plc ("Anglo American") announces that it has agreed to sell theBoart Longyear Group, part of Anglo Ferrous Metals and Industries, to privateequity group Advent International plc for an enterprise value of US$545 million.The consideration is payable in cash. On 2nd March 2005, Anglo American announced that it had received a number ofapproaches for the purchase of the Boart Longyear Group, a leading provider ofdrilling services, tools and equipment for the natural resource, constructionand quarrying industries and industrial markets worldwide, and had, accordingly,undertaken a formal process to determine whether shareholder value would bemaximised by the sale of the group. Together with the sale of Wendt (part of the Boart Longyear Group ofbusinesses), which was announced on 31st March 2005, the total enterprise valueachieved from the process amounts to US$635 million, which will be used forgeneral corporate purposes. In 2004, Boart Longyear reported EBIT of US$67million. Tony Trahar, CEO of Anglo American said, "This transaction is part of ourongoing strategy of optimising our asset base." For further information: Anglo American - London Investor Relations Media Relations Charles Gordon Kate AindowTel: +44 207 968 8933 Tel: +44 207 968 8619 Anglo American - Johannesburg Investor Relations Media Relations Anne Dunn Daniel NgwepeTel: +27 11 638 4730 Tel: +27 11 638 2267 Notes to Editors: Anglo American plc is one of the world's largest mining and natural resourcegroups. With its subsidiaries, joint ventures and associates, it is a globalleader in platinum group metals, gold and diamonds, with significant interestsin coal, base and ferrous metals, industrial minerals and paper and packaging.The group is geographically diverse, with operations in Africa, Europe, Southand North America, Australia and Asia. (www.angloamerican.co.uk) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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