UK-based mining giant
Anglo American has announced that it has completed the sale of Scaw
South Africa (Pty) Ltd. (Scaw
South Africa), a leading South African-based integrated steelmaker, and related companies for a total consideration of ZAR 3.4 billion ($383.5 million) on a cash and debt free basis.
In April 2012,
Anglo American announced the sale of Scaw
South Africa to an investment consortium led by the Industrial Development Corporation of
South Africa (IDC) and
Anglo American's partners in Scaw
South Africa, namely, Izingwe Holdings (Pty) Limited, Shanduka Resources (Pty) Limited and the Southern Palace Group of Companies (Pty) Limited.