InfoAnda - Anglo American seeks to sell Brazilian assets

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Anglo American seeks to sell Brazilian assets AFP - Tuesday, June 30 LONDON (AFP) - - London-based miner Anglo American is exploring the sale of Brazilian assets as the group seeks to strengthen its defences against a merger proposal from Swiss rival Xstrata, the FT said on Monday. The Financial Times, which did not name its source, said Anglo had informal discussions about the sale of up to 30 percent of Brazilian iron ore division MMX Minas-Rio, which it bought last year for 2.12 billion pounds. Anglo has held talks with Bahrain's Gulf Industrial Investment Company and Japan's Sojitz conglomerate, according to the daily business newspaper. In addition, the paper reported that Anglo American was looking for a new chairman to replace Mark Moody-Stewart. Last week, Anglo rejected a merger proposal from Xstrata, snubbing a move which could have forged the two into one of the world's biggest miners. The potential tie-up was the latest sign of consolidation pressure in the sector after the collapse of a deal by Rio Tinto with China. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Most Popular – Top Stories Viewed Chubby people live longest: Japan study Opium-eating wallabies get high, make crop circles Jackson feared dying like Elvis: Lisa Marie Presley Questions mount over Jackson animal kingdom Egyptian tycoon to hang for Lebanese diva murder View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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