Bloomberg News

Anglo American Is Set to Sell Scaw Metals Unit, Independent Says

April 01, 2012

Anglo American Plc (AAL) is poised to sell its Scaw Metals steel assets, the Independent on Sunday reported, without saying where it got the information.

Russian steelmaker Evraz Plc (EVR) is said to be among companies that have talked about buying Scaw Metals, according to the newspaper. Anglo American initially wanted to sell Scaw Metals for between $800 million and $900 million, although it may now accept bids between $500 million and $750 million, the newspaper said.

The sale process for Scaw Metals “is under way,” a spokesman for Anglo American in London said in an e-mail today.

To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


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