Anglo American plans a secondary London listing for its platinum business, which would help to reduce capital outflows from SA when it unbundles its 80% stake in Anglo Platinum (Amplats), as the group has promised to do as part of the far-reaching restructuring plan it announced in mid-May.
Anglo CEO Duncan Wanblad revealed this on Thursday after Australian miner BHP walked away from its bid to buy Anglo late on Wednesday. This decision came after Anglo rebuffed it for the fourth time and refused to extend the deadline for further negotiations. BHP’s proposal also required Anglo to unbundle Amplats, as well as Kumba Iron Ore, a move that analysts at JPMorgan estimated could have caused a net R80bn to flow out of SA...
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