{"id":65140,"date":"2024-04-27T06:42:00","date_gmt":"2024-04-27T06:42:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal"},"modified":"2024-04-27T07:12:44","modified_gmt":"2024-04-27T07:12:44","slug":"mantashe-is-not-a-fan-of-r738-billion-anglo-deal","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal","title":{"rendered":"Mantashe is not a fan of R738 billion Anglo deal"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South African Mines Minister Gwede Mantashe signalled his opposition to BHP Group\u2019s proposed takeover of Anglo American.<\/p>\n

The offer by the world\u2019s largest miner envisages an all-share deal in which Anglo American would first spin-off controlling stakes in South African platinum and iron-ore companies to its shareholders before being acquired by BHP.<\/p>\n

The proposal values Anglo American at \u00a331.1 billion ($38.8 billion)<\/p>\n

\u201cI wouldn\u2019t support it,\u201d Mantashe said by phone on Thursday. \u201cI don\u2019t think Anglo will agree to that. I wouldn\u2019t if I was on the board.\u201d<\/p>\n

Anglo American is the fourth-biggest stock in the FTSE\/JSE Africa All Share Index, with a weighting of 4.3%.<\/p>\n

The company owns majority stakes in two other South African listed miners \u2014 Anglo American Platinum Ltd., or Amplats, and Kumba Iron Ore Ltd. \u2014 and South Africa\u2019s state pension fund manager is its biggest shareholder.<\/p>\n

The plan to demerge Amplats and Kumba \u201cmakes sense\u201d because what BHP really wants is Anglo American\u2019s Latin American copper assets, said Nic Stein, a fund manager at Cape Town-based Coronation Asset Management, which owns about 0.9% of Anglo American.<\/p>\n

He described BHP\u2019s per-share offer of about \u00a325.08 as \u201con the light side\u201d and said it was either likely to be raised or other suitors might enter the fray.<\/p>\n

South African Finance Minister Enoch Godongwana said it was too early to comment on the proposed deal.<\/p>\n

\u201cWe are not familiar with the nature and details of the deal and its implications for South Africa,\u201d he said in an interview at a briefing in Johannesburg.<\/p>\n

\u201cI hope their attempt is not to clean, is not to destroy the South African operations.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South African Mines Minister Gwede Mantashe signalled his opposition to BHP Group\u2019s proposed takeover of Anglo American. The offer by the world\u2019s largest miner envisages an all-share deal in which Anglo American would first spin-off controlling stakes in South African platinum and iron-ore companies to its shareholders before being acquired by BHP. […]<\/p>\n","protected":false},"author":84,"featured_media":65139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-65140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nMantashe is not a fan of R738 billion Anglo deal - South Africa<\/title>\n<meta name=\"description\" content=\"South African Mines Minister Gwede Mantashe signalled his opposition to BHP Group\u2019s proposed takeover of Anglo American. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mantashe is not a fan of R738 billion Anglo deal\" \/>\n<meta property=\"og:description\" content=\"South African Mines Minister Gwede Mantashe signalled his opposition to BHP Group\u2019s proposed takeover of Anglo American. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-27T06:42:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-27T07:12:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714189216.326134.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mantashe is not a fan of R738 billion Anglo deal\",\"datePublished\":\"2024-04-27T06:42:00+00:00\",\"dateModified\":\"2024-04-27T07:12:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\"},\"wordCount\":296,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714189216.326134.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/mantashe-is-not-a-fan-of-r738-billion-anglo-deal\",\"name\":\"Mantashe is not a fan of R738 billion Anglo deal - 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