Anglo American acquires 63.5% of IronX Mineracao (Brazil) for US$ 3.5B

Anglo American PLC acquires IronX Mineracao SA
Anglo American PLC (AA) acquired a 63.5% interest in IronX Mineracao SA (IronX), a mining holding company, from MMX Mineracao e Metalicos (MM), for $ 6.164 bil Brazilian reais (1.78 bil British pounds/$3.493 bil US). The transaction, which was subject to customary closing conditions and regulatory approval, was to include MM's 51% interest in the MMX Minas- Rio System (MR) and its 70% interest in the MMX Amap System. On completion, AA held 100% of MR. The transaction was contingent upon the completion of IronX's spinoff. Concurrently, MM disclosed intentions to spin off IronX and LLX Logistica SA. Concurrently, AA agreed to acquire the remaining 36.5% stake, which it did not already own, in IronX.