Anglo American PLC (LSE: AAL) said it has reduced its holding in South African aluminium products company Hulamin Ltd to 17 percent by selling 61 million shares at Rand12 per share to Coronation Asset Management, receiving Rand732 million or approximately US$93 million.
The disposal, at a 10 percent premium to the prevailing market price, is in line with Anglo American's strategic commitment to focus on its core mining operations.
Anglo American intends to explore options for unlocking value rom its residual shareholding of 35.8 million Hulamin shares.
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