Anglo American had been looking to sell its 20% stake in South African gold company Gold Fields of South Africa, the fourth-biggest in the world, for some time.
Anglo American?s desire to cash in on its stake was strengthened by the $1.4 billion acquisition of Ghana?s Ashanti Goldfields by Anglo Gold, Anglo American?s South African gold subsidiary. Anglo Gold is to pay for the company with its own shares, which would dilute Anglo American?s stake in its subsidiary to around 45%.
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