1st Mar 2007 14:26
Anglo American PLC01 March 2007 News Release 1 March 2007 Scaw Metals announces equity empowerment transaction Anglo American plc is pleased to announce that its Scaw Metals business hasinitiated an empowerment transaction for its South African assets, which hasresulted in the formation of a new company, Scaw South Africa (Pty) Ltd (ScawSA), with effect from 1 January 2007. Scaw, an international manufacturer of steel and alloy iron products, is whollyowned by Anglo American and part of the Anglo Ferrous Metals and Industriesdivision. The transaction will result in a black economic empowerment (BEE)consortium acquiring a 21% equity stake and a broad-based employee trustacquiring a 5% equity stake in the R5.3 billion ($704 million) South Africanbusiness. Anglo American will hold the remaining 74%. For further information: Anglo American Fiona Wrench - 011 638 2273 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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