Tuesday, November 24,  5:45 pm

Forward-looking intelligence allows you time to act. View this video on our restructuring content to see how you can benefit from our expertise.

While fighting off a merger approach from Xstrata plc, Anglo American plc is seeking a partner for at least part of the Brazilian iron ore operations it bought last year for $5.5 billion as commodity prices peaked, a source confirmed.

The Times of London reported Monday that the London- and Johannesburg-based mining company is in talks with Dubai Natural Resources World, and the Financial Times reported that Anglo has held talks with Gulf Industrial Investment Co., of Bahrain, and Japan's Sojitz Corp. Other parties involved in the discussions are Brazilian companies including Vale SA, which had originally been seen as a likely white-knight bidder for the whole of Anglo American before Vale CEO Roger Agnelli told journalists last week that acquisitions weren't on the agenda. On offer is a stake of between 20% and 30% in the Minas-Rio iron ore project, the person said, though this might extend to the Amapa project. Aluminum Corp. of China and China Minmetals Corp. have also been suggested as potential investors, though the Observer newspaper on Sunday named Minmetals as a possible suitor for Xstrata.



Dig deeper, with Pipeline.

• 159 in-depth reports of M&A deals in the Metals sector
• 22 in-depth transaction records for Xstrata
• 21 in-depth transaction records for Anglo American
• 16 company pages related to Brazil
• 10 years of news and analysis archives from the voice of The Deal Economy
  

Most searched keywords

• Skadden Arps
• Idearc Inc.
• Deutsche Bank
• Amusement parks
• Deb Shops
• Windstream Corp.
• Concho Resources
• Hanna Andersson
• Tween Brands
• Edward Bastian