11/05/2009
The Controlled Links
The biggest ever takeover bid for a British company was launched yesterday by a South African-controlled mining group. The former British Leyland chairman Sir Michael Edwardes, backed by diamond giant De Beers and Mr Harry Oppenheimer's Johannesburg gold company Anglo-American cheap links of london , was appointed to spearhead a Pounds 2.9 billion assault on Consolidated Gold Fields.
The bid is being launched through Minorco, a Luxembourg company dominated by De Beers and Anglo which controls a host of mining interest outside South Africa Links of London Earrings online. Cons-Gold, which Cecil Rhodes helped found 101 years ago, said it will fight the takeover attempt.
If Minorco's bid succeeds, the group says it will sell of Cons-Gold's remaining South African investments - the British company still holds about 38 per cent of Gold Fields of South Africa.
That would give De Beers and Anglo an huge expanded portfolio of mining and natural resources operations insulted form political or industrial turmoil within South Africa Links of London Bangles online. The group's shareholders would be largely within South Africa, but its operations would be elsewhere.
Selling the GFSA stake should keep Pretoria happy: the government is anxious that Anglo, associated with the English-speaking progressive white South African community, should not increase its dominance of the republic's most important industry.
Minorco would hold on to ConsGold's more successful businesses, including its wholly-owned offshoot ARC, better known as Amey Roadstone Links of London Rings online, Britain's leading supplier of aggregates for the construction industry.
09:51 Permalink | Comments (0) | Email this | Tags: appointed links


Post a comment