JOHANNESBURG (miningweekly.com) – Mining giant Anglo American has fully exited its Tarmac businesses after concluding the sale of its Tarmac Middle East unit to road and transport infrastructure construction company Colas SA subsidiary Colas Moyen Orient.
The group on Tuesday said it had sold its interests in the operating joint venture entities, which historically operated under the Tarmac name in the United Arab Emirates, Oman and Qatar, in a confidential deal.
The sale to Colas of an additional nonoperating joint venture entity in Oman was pending satisfaction of certain outstanding conditions.
“Completion of this transaction will mark the final exit by Anglo American . . . following the completion of the sale of its 50% ownership interest in Lafarge Tarmac to Lafarge in July 2015,” the company said in a statement.
The move formed part of Anglo’s asset disposal programme and the wider strategy of reshaping the Anglo American portfolio and prioritising capital.