From CNBC Africa
AngloGold Ashanti may face a possible revolt from its shareholders over a 2.1 billion US dollar rights issue and asset split.
According to Times Live, shareholders of the global gold mining company have added their voices after billionaire hedge fund manager, John Paulson said that he would not vote in favour of the ‘value- destructive’ transaction which includes AngloGold’s second rights offering in six years.
Paulson’s fund is one of the biggest shareholders in AngloGold at 6.6 percent and has been pushing the company to split into a South African and non-South African business which could potentially boost AngloGold’s share price by 68 per cent
The split would consist of AngloGold Ashanti retaining all South African assets while Newco, a new entity, would hold all other international assets.
Written by Farhaanah Mahomed/Read more at CNBC Africa
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