AngloGold Shakes Up Mining Sector With $2.1B Share Sale

AngloGold Ashanti Limited (ADR) (NYSE:AU) (JSE:ANG) announced a $2.1 billion share sale Thursday in a move to separate its international business into a London-listed company, leaving the South African gold miner to focus on labor-intensive mines at home. The gold miner will retain a 65% interest in the new company. Debt free after the split Unveiling the restructuring move, AngloGold Ashanti Limited (ADR) (NYSE:AU) (JSE:ANG)’s chief executive officer Srinivasan Venkatakrishnan said proceeds from the rights issue will be used to repay net debt of about $3.1 billion and the South Africa’s gold miner will have no debt once the split is…