Anglo American sells 11.3% stake in AngloGold Ashanti

GLOBAL miner Anglo American has sold its remaining 11.3% stake in AngloGold Ashanti for $US1.28 billion ($A1.93 billion).

Kristie Batten

The company sold 39.9 million shares at $32 per share to investment fund manager Paulson & Co Inc.

Anglo American had previously stated that the investment was non-core and the company intended to dispose of its holding in the gold miner.

At the end of 2008, Anglo American held a 16.2% stake in AngloGold, but earlier this year, it sold 17.3 million shares.

Total proceeds from the sell-off was $1.77 billion and Anglo American no longer holds any shares in AngloGold.

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