MMX Mineracao e Metalicos SA- Certain Assets &
Anglo American PLC | Update Date: 07/25/08 |
| Date Announced: 01/17/08 |
Value (million $USD): 5.50 billion U.S. Dollar
9.71 billion Brazilian Real |
|
| Status: Pending | |
| TRANSACTION DETAILS |
|---|
| Date Announced | 01/17/08 | | |
| Date Originally Announced | 01/17/08 | | |
| Format | Merger | Acquisition techniques | Divestiture |
| Attitude | Friendly | Agency | Unspecified Regulatory Auth. |
| Value | 5.50 billion U.S. Dollar
9.71 billion Brazilian Real | Advisor Fees | n/a |
| SYNOPSIS |
|---|
| BRAZIL - Anglo American PLC (AA) planned to acquire all the outstanding stock of an undisclosed new company (NC) holding certain assets of MMX Mineracao e Metalicos (MM), a mineral mining company, from Mr. Eike Batista (63.6%), for $ 9.708 bil Brazilian reais (2.803 bil British pounds/$5.5 bil US). The transaction, which was subject to customary closing conditions and regulatory approval, was to include MM's 51% interest in the MMX Minas-Rio System (MR) and its 70% interest in the MMX Amap System. Upon completion, AA was to own 100% of MR. The transaction was contingent upon the completion of NC's spinoff. Concurrently, MM disclosed intentions to spin off NC and LLX Logistica SA. |
| TARGET |
|---|
| Name | MMX Mineracao e Metalicos SA- Certain Assets |
| Industries | Silver ores; Gold ores; Copper ores; Sheet metal work; Steel foundries, nec |
| City | n/a |
| State | n/a |
| Nation | Brazil |
| Incorporated in | n/a |
| Public Status | Subsidiary |
| Business Description | Certain assets of MMX Mineracao e Metalicos SA, which was to include the company's 51% interest in the MMX Minas-Rio System and 70% interest in the MMX Amap System. |
| Advisors | Credit Suisse Group; Banco Itau-BBA SA |
| Target Sales | n/a |
|
| ACQUIROR |
|---|
| Name | Anglo American PLC (London : AAL) |
| Industries | Uranium-radium-vanadium ores; Miscellaneous nonmetallic minerals, except fuels; Miscellaneous metal ores, nec; Bituminous coal and lignite surface mining; Bituminous coal underground mining; Anthracite mining; Copper ores; Ferroalloy ores, except vanadium; Timber tracts; Forest nurseries and gathering of forest products; Forestry services; Business services, nec |
| City | London |
| State | n/a |
| Nation | United Kingdom |
| Incorporated in | n/a |
| Public Status | Public |
| Business Description | Anglo American PLC, headquartered in London, United Kingdom, is a gold, uranium, diamond, platinum, coal, copper, nickel, ferrous metal, and base metal mining company. The Group's principal activities are carried out through its Base Metals, Platinum, Industrial Minerals, Ferrous Metals and Industries and Coal divisions. Base Metals comprises of copper, zinc, nickel and mineral sands operations. Platinum operation mines, processes, refines and markets the entire range of platinum group metals consisting of platinum, palladium, rhodium, ruthenium, iridium and osmium. Industrial minerals produce crushed rock, sand and gravel, asphalt, concrete and mortar, concrete products, lime and cement. Ferrous Metals and Industries comprises iron ore, chrome, manganese, carbon steel and vanadium minerals. Coal produces and exports coal minerals. The group also owns and operates forest tract and provides technical and administrative services to mining and industrial companies. The company is also an investment holding company and was founded in 1917. |
| Advisors | UBS Investment Bank; Goldman Sachs & Co |
| Acquiror Sales | 25.20 billion U.S. Dollar
12.69 billion British Pound |
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