[miningmx.com] – GOLDMAN Sachs, UBS and Rothschild, advisers to AngloGold Ashanti’s proposed $2.1bn rights issue and de-merger, would not earn any fees after the gold firm’s shareholders rejected the plan, said Business Times.
The newspaper said on September 21 that the transaction could have netted them at least R700m based on a “conservative” 3% commission on the rights issue alone. This was after working for a year to convince the South African Reserve Bank of the merits of the deal.
AngloGold spokesman Chris Nthithe told Business Times that the bankers earned nothing on the failed deal and were “stood down now that the process has been terminated”.
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