Brussels, 24/07/2000 (Agence Europe) - The European Commission authorised Anglo American Plc to take exclusive control of shell Coal Holding Ltd by acquiring, for an amount of between USD 850 and 900 million, all of the share capital of the company from Shell.
Specialised in the production and sale of hard coal, Shell Coal made a net profit of USD 45 million in 1999 for a production of 17.3 million tonnes of coal and 1,000 employees. Most of its activities are located in Australia and it has interests in Venezuela through a joint venture called Carbones de Guasare. Listed on the London stock exchange and also on the on the secondary listings of the Johannesburg and Swiss stock markets, Anglo American is specialised in the precious metal, industrial minerals, ferrous metals and forestry products sectors. Notified last month this operation has not raised any competition problems in the coal sector, main market concerned, in which Anglo American and Shell hold a combined share of 9% of all coal imported into the EU and similar percentages for the supply of coal to the electricity generating industry, the steel industry and other industrial users.