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Billiton loses Gove bid
Billiton's attempt to acquire a 30% stake in Gove alumina refinery has been blocked by Alcan, which used its pre-emtive rights to acquire Gove Aluminium (which holds 30% of the Gove refinery). Alcan holds the other 70% of the refinery.
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Billiton to get a 86% stake in Worsley
Billiton's Japanese partners (Kobe Steel, Nissho Iwai and Itochu) have decided not to take up any portion of the 56% interest in Worsley Alumina (Pty) Ltd acquired through the acquisition of Reynolds Australia Alumina Ltd from Alcoa Inc. Following the closure of the transaction (expected to be in Jan 01), Billiton will hold 86% of Worsley and the Japanese partners will hold the remaining 14%.
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Billiton takes steps to prevent Anglo takeover
Following Anglo's deal with Remgro and its subsequent acquisition of a 7.1% interest in Billiton and an additional 11.3% interest in Gold Fields, both companies have called in their corporate advisors to devise strategies to combat any possible takeover bid by Anglo. Billiton, however has 12 months to formulate a strategy as part of the agreement between Anglo and Remgro.
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Billiton director resigns
Billiton director Thys Visser has resigned from the board of directors from 8 Dec 00.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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