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| Anglo American sells stake in Highveld Steel and Vanadium Corp. Mining giant Anglo American plc announced the disposal of its remaining 29.2% shareholding in Highveld Steel and Vanadium Corporation Limited to the Evraz Group S.A. for $238 million. Evraz was granted a call option, subject to regulatory approvals, over this stake in July 2006, when Anglo American sold 49.8% of Highveld to Evraz and Credit Suisse. This transaction has closed and marks the completion of Anglo American's disposal of its interest in Highveld. Since July 2006, Anglo American has achieved proceeds of $678 million, including the initial payment of $412 million, dividends of $28 million and the final payment of $238 million. Anglo American's representatives have resigned from the Highveld board. write your comments about the article :: © 2007 Construction News :: home page |