Shearman & Sterling has acted as international counsel to AngloGold Ashanti Limited in connection with its $284 million equity offering. The offering was underwritten by UBS.

Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the third largest gold producer in the world and the largest in Africa. The company is listed on, among others, the New York Stock Exchange, the Johannesburg Stock Exchange and the London Stock Exchange. Proceeds from the offering are expected to be used to finance the proposed acquisition by AngloGold Ashanti of a 50% interest in Moto Goldmines Limited.

Commenting on the deal, Shearman & Sterling partner Richard Price said, "We were delighted to have assisted our long-standing client AngloGold Ashanti in this successful and well-timed overnight offering. This offering demonstrates how the SEC's shelf registration system allows issuers to act nimbly in tapping the deepest capital market in the world."

The Shearman & Sterling capital markets team advising on the offering was led by Richard Price and included counsel Robert Ferguson and associates Rebecca Marques, Cedric Van den Borren and Paul Beck (London–Capital Markets). Tax advice was provided by associate Thomas Day in New York.