Anglo American won't keep AngloGold Ashanti as a subsidiary

By Angela McDaniels

Tacoma, Wash., Jan. 29 - AngloGold Ashanti Ltd.'s largest investor, Anglo American plc, said it has decided to reduce or dispose of its shareholdings in the company and to no longer seek to retain it as a subsidiary.

Anglo American, which is the company's largest shareholder, is doing this to give AngloGold Ashanti greater flexibility to pursue its strategic agenda, according to a schedule 13D/A filing with the Securities and Exchange Commission.

Together with Anglo South Africa Capital (Pty.) Ltd., Anglo American beneficially owns 52,721,907 shares, or 15.03%, of the company's common stock.

The investors sold 4,393,276 shares of AngloGold Ashanti stock between Jan. 20 and Jan. 27. Shares sold on the New York Stock Exchange were priced from $25.6279 to $28.3304 each, and shares sold on the Johannesburg Stock Exchange sold for ZAR 259.9769 to ZAR 296.6624 each.

AngloGold Ashanti is a gold producer based in Johannesburg.

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