South Africas Billiton: BHP , the worlds biggest mining company, in August announced plans to spin off operations worth roughly $16 billion 10 billion pounds most of them acquired in its 2001 merger with South Africas Billiton to focus on its most profitable activities, according to Euro News. However, institutional investors objected to Londons omission. Those required to place funds in European-only entities would have been forced to sell shares in the spinoff company a grouping of assets in aluminium, nickel, manganese and lower quality coal in the absence of a London presence and Reuters Mining giant BHP Billiton, hoping to appease disgruntled investors, confirmed on Thursday that it would list a planned spin-off company in London next year, as well as in Australia and South Africa. BHP said at the time that it would list the business on the Australian Stock Exchange, with a secondary listing on the Johannesburg Stock Exchange.
(news.financializer.com). As
reported in the news.
Tagged under institutional investors, mining company topics.