Minorco
MINORCO,"Luxembourg-registered offshore resources group whose major shareholder is Anglo American". [1]
In 1998: "South Africa's Anglo American Corp. unveiled a merger with Minorco SA that will create one of the world's biggest mining and natural resources companies with a stock market value of $10 billion. Anglo said the new company—which will have vast holdings in gold, platinum and other metals, as well diamonds and coal—will move its headquarters to London after 81 years in South Africa. The merger is expected to be completed by March. Anglo Plc would be listed and its corporate headquarters established in London by then. The combined company will have annual earnings of $1.4 billion and sales of $16.3 billion." [2]
In February 1989 Edouard Stern "purchased a total of 320,000 shares... of Consolidated Gold Fields, a British gold company in the middle of a takeover battle between Consolidated Gold Fields and Minorco, which was the Luxembourg subsidiary of a South African gold conglomerate owned by the wealthy and powerful Oppenheimer family. The Oppenheimers had long been associated with Lazard. first through Andre and then through Felix. At the time of its bid for Consolidated Gold, Minorco still owned 30 percent of Engelhard Corporation, a stake that came about as a result of a number of deals Lazard arranged in the 1970s. In 1986, Felix was on the board of Minorco for a year; then Jim Glanville too over his seat." [3] (Felix G. Rohatyn )
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References
- ↑ Minorco counts the costs, btimes.co.za, accessed May 11, 2010.
- ↑ Minorco merges with Anglo American, sells its stake in Engelhard, dieselnet, accessed May 11, 2010.
- ↑ William Cohan, The Last Tyycoons, pp.413-4.
