Anglo American sold its 25 percent stake in SA Eagle Insurance Co. Wednesday to Zurich Financial Services for $56 million cash. Zurich already holds a controlling 58 percent of Eagle. The deal is part of Anglo American’s efforts to focus on its mining resources group.
The company has disposed of Eagle along with a 51 percent share of South African aluminum and sugar firm Tongaat-Hulett worth $243 million, and a 68 percent interest in LTA, a mining engineering firm sold last week to Aveng construction company. The largest sale was its 20.6 percent stake in South African financial services group First Rand, worth an estimated $1.2 billion.
Topics Mergers & Acquisitions
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