Global miner Anglo American said it has completed the sale of Scaw South Africa, an integrated steel maker, to an investment consortium led by South African state investment agency Industrial Development Corporation (IDC) for ZAR 3.4bn (EUR 295.5mn) on a debt and cash free basis. The deal, which was announced in April, follows the sale of Scaws international businesses, Moly-Cop and AltaSteel, to Onesteel in December 2010 for USD 932mn, and is part of Anglos efforts to divest non-core assets. The partners of IDC in the consortium that bought Scaw South Africa are Izingwe Holdings, Shanduka Resources and the Southern Palace Group of Companies. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more