Multinational resource group Anglo American (LSE: AAL) has paid 3.17bn reais (US$1.33bn) through a public offering to acquire all remaining shares of its Anglo Ferrous Brazil subsidiary, the company reported to the São Paulo stock exchange Bovespa.
This year Anglo American acquired control of Brazilian iron ore producer IronX from local businessman Eike Batista, also the present controller of compatriot iron ore maker MMX Mineração.
Anglo American renamed the company Anglo Ferrous Brazil following the purchase.
In the transaction, Anglo American paid 5.5bn reais (US$2.30bn) for Batista's 63.3% stake of 194mn shares.
IronX minority shareholders had 108mn common shares valued at 29.42 reais. The public offer was mandatory under Brazilian law.
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