Anglo American Sells Remaining Valterra Stake for $2.5 Billion — Update

By Ian Walker

Anglo American sold its remaining 19.9% stake in Valterra Platinum for around $2.5 billion following a bookbuild exercise first announced late Wednesday.

The diversified mining group said Thursday that it has sold 52.2 million shares in Valterra at 845 South African rand ($47.83) a share. The price is an 8.6% discount to Valterra's closing price of 924.28 rand on Wednesday.

The London-based miner, which ranks among the world's largest by revenue, said late Wednesday that it was selling the shares given their performance since Valterra's demerger in May. The money raised will strengthen Anglo's balance sheet.

Valterra Platinum, world's largest platinum group metals mining company, started secondary trading on the London Stock Exchange on June 2 following its spinoff from Anglo American with a value of around 7.77 billion pounds. Its shares have since climbed and the company was worth 10.32 billion pounds at close of trading on Wednesday.

Anglo American started demerging Valterra Platinum, formerly Anglo American Platinum, following BHP's $50 billion failed takeover bid last year.

Last year, Anglo American also said it would spin off De Beers through a sale or listing, instead focusing on copper, premium iron ore and crop nutrients.

On July 31, the miner said it remained committed to a divestment or demerger of the business, but that there remained uncertainty around the terms, legal structure and regulatory approvals for any such transaction. That meant De Beers didn't meet the criteria to be classified as held for sale as of June 30, it said.

The miner delivered $1.3 billion of cost savings so far this year, and said it is on track to meet its 2025 target of $1.8 billion in savings.

Anglo American shares closed at 22.88 pounds on Wednesday and are down 1.3% over the year to date.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

September 04, 2025 03:13 ET (07:13 GMT)