20
Feb
Anglo American has agreed to the sale of its nickel business to MMG Singapore Resources Pte. Ltd, a wholly owned subsidiary of MMG Limited for a cash consideration of up to US$500 million. The nickel business comprises two ferronickel operations in Brazil – Barro Alto and Codemin – and two high quality greenfield growth projects – Jacaré and Morro Sem Boné. The agreed cash consideration of up to US$500 million comprises an upfront cash consideration of US$350 million at completion; the potential for up to US$100 million in a price-linked earn out and contingent cash consideration of US$50 million linked…