Anglo sells Scaw SA stake to BEE

Mining giant Anglo American yesterday announced that it has sold 26 percent of steel producer Scaw South Africa to BEE partners, in a transaction valuing the unit at R5,3billion. A BEE consortium headed by Izingwe Holdings will take up a 21 percent stake in Scaw SA, with an employee trust taking up 5 percent. Anglo will retain the remaining 74 percent. - I-Net Bridge

Mining giant Anglo American yesterday announced that it has sold 26 percent of steel producer Scaw South Africa to BEE partners, in a transaction valuing the unit at R5,3billion. A BEE consortium headed by Izingwe Holdings will take up a 21 percent stake in Scaw SA, with an employee trust taking up 5 percent. Anglo will retain the remaining 74 percent. - I-Net Bridge

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