[miningmx.com] – ANGLO American could raise $10bn by selling its 85%-owned De Beers diamond business, said Bloomberg News citing the view of HSBC in a note to investors.
“De Beers would likely attract a premium valuation. A partial sale through IPO could be, under the right market conditions, a powerful price-discovery mechanism in addition to being significant cash boost,” HSBC said in its note.
Anglo, which is seeking to raise $3bn by selling assets, has already raised about $2bn this year by divesting from its tarmac business, two copper mines in Chile and platinum assets in South Africa, said Bloomberg News.
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