Mitsubishi Picks Up Anglo American Chile Stake For $5B

Law360, New York (November 9, 2011, 9:42 PM EST) -- U.K.-based mining company Anglo American PLC is selling a 24.5 percent interest in its copper assets in Chile, including two copper mines and a copper smelter, to Mitsubishi Corp. for $5.39 billion, the company announced Wednesday.

Anglo American said in a statement that Mitsubishi had already paid for the assets of Anglo American Sur SA with a promissory note due Thursday. Following the completion of the transaction, Anglo American holds a 75.5 percent interest in the Chilean assets.

Anglo American CEO Cynthia Carroll said the company...
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