MMX's US$5.5bn Mining Deal Moves Forward

July 2008 | M&A News Alert

More news from Brazil this week, as a US$5.5bn mining deal gets back on track after being temporarily derailed by some potential legal difficulties. Brazilian iron ore and pellet producer MMX Mineração and London-based miner Anglo-American announced that they will on August 5 close a deal whereby Anglo-American will acquire a 63.5% stake in IronX. IronX is a newly created company which controls two of MMX's key Brazilian mining assets, holding 51% of MMX's Minas-Rio iron complex and 70% of the Amapá iron ore system in northern Brazil.

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.