Shearman And Sterling

News June 29, 2021

Anglo American’s Sale of 33.3 Percent Interest in Cerrejón

Shearman & Sterling advised Anglo American on its agreement for the sale of its 33.3 percent interest in the Cerrejón joint venture to Glencore for a total cash consideration of approximately $294 million. The deal marks the final stage of Anglo American’s transition from thermal coal operations. The Transaction is subject to a number of competition authority and other regulatory approvals and is expected to complete in H1 2022.

Anglo American, headquartered in the U.K., is one of the world's largest mining companies and is listed on both the London (FTSE 100 Index) and Johannesburg stock exchanges. Anglo American, a global leader in the production of platinum and diamonds, has significant interests in metallurgical coal, copper and iron ore and manganese metals.

Lloreda Camacho & Co. advised Anglo American on Columbian law matters. The Lloreda Camacho team included partners Andres Hidalgo and Ignacio Santamaria.

The Shearman & Sterling team below was supported by Daniel Senior.

The Team