Anglo completes sale of Scaw

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Scaw inlsa Photo: Simphiwe Mbokazi.

Anglo American (AGL) has completed the sale of Scaw South Africa to an Industrial Development Corporation of SA (IDC) led consortium‚ it said Monday.

It completed the sale on November 23 for a total consideration of R3.4 billion on a cash and debt free basis.

Anglo American announced on 24 April 2012 the sale of Scaw South Africa - a leading SA based integrated steel maker - to an investment consortium led by the IDC (IDC) and Anglo American’s partners in Scaw South Africa - Izingwe Holdings‚ Shanduka Resources and the Southern Palace Group of Companies. - I-Net Bridge

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