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Examples
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The sale should also remove uncertainty regarding the shareholding in Tongaat and allow for increased investment by emerging-market fund managers, Mr. Staude said.
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Anglo American didn't provide a value for the Tongaat sale, but based on Tongaat's closing stock price Wednesday in Johannesburg, where the shares fell 15% to 85 rand, the stake is valued at about 4.35 billion rand ($536 million).
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"This is an opportunity to increase the liquidity of Tongaat Hulett's listed equity and enhance the extent and spread of local and foreign shareholders," said Tongaat Chief Executive Peter Staude.
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The company said it will offer its 51.2 million shares in Tongaat, which represents a 49.5% stake, to institutional investors, partly through a sale of shares and partly through an offering of bonds that can be swapped for Tongaat shares.
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Tongaat birth: 1.05 male (s)/female under 15 years: 1.043 male (s)/female
Sex ratio 2008
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The visit included stops at the Westville Prison and regional courts and police stations in Umlazi, Tongaat, Chatsworth,
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Tongaat in KwaZulu-Natal, promising better service delivery, a party statement said.
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He said six years ago the ANC promised to build a retirement village in Tongaat but to no avail.
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Tongaat and Verulam to the mines of Newcastle and the farms of
Address on the occasion of the 100th anniversary of Mahatma Gandhi's Satyagraha 2006
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Many people in Tongaat, Leon said, were affected by the collapse of the textile industry.
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