ANGLO American has sold its stake in China's largest coal producer, China Shenhua Energy, raking ...
The global miner sold its complete 4.6% stake in the listed part of Shenhua (0.78% of the entire company), causing a 6.2% drop in Shenhua shares.
Anglo sold 155.6 million shares in Shenhua at $HK35.46 each to raise $HK5.52 billion ($US708.5 million).
It originally bought its stake in the company when Shenhua listed on the Hong Kong Stock Exchange.
According to the South China Morning Post, when Anglo invested in Shenhua it said the stake would allow it to gain a foothold in China's coal sector.
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