26 NOVEMBER 2014AlCircle.com
BHP demerger progressing very, very well : Graham Kerr
Edited by : AL CIRCLE
1 min read
Graham Kerr, the CEO-elect for the proposed new company ( Newco) said in a press conference on Monday that the progress of the BHP demerger is going “very, very well.”
They are now at a stage of seeking approvals from Australia, South Africa and other jurisdictions at the same time engaging with key stakeholder, employees and share holders, all of which is proceeding smoothly.
In March, the documentations will be presented to the shareholders and the vote is supposed to be held in May, said Kerr.
The yet to be named company, tentatively being called Newco for the time being, is going to be listed primarily in Australia with a secondary listing in South Africa. Kerr revealed that due to the high demand for their shares in the UK, a secondary inward listing will be initiated in UK as well.
Newco has many attractive assets assigned to it, including the worlds largest silver mine. In terms of aluminium, the company will cover the Worsley alumina refinery in Australia along with the Mozal smelters of South Africa, with Mike Frazer appointed as the president and COO-elect in Africa. Johannesburg will be the regional base in that area.
They are now at a stage of seeking approvals from Australia, South Africa and other jurisdictions at the same time engaging with key stakeholder, employees and share holders, all of which is proceeding smoothly.
In March, the documentations will be presented to the shareholders and the vote is supposed to be held in May, said Kerr.
The yet to be named company, tentatively being called Newco for the time being, is going to be listed primarily in Australia with a secondary listing in South Africa. Kerr revealed that due to the high demand for their shares in the UK, a secondary inward listing will be initiated in UK as well.
Newco has many attractive assets assigned to it, including the worlds largest silver mine. In terms of aluminium, the company will cover the Worsley alumina refinery in Australia along with the Mozal smelters of South Africa, with Mike Frazer appointed as the president and COO-elect in Africa. Johannesburg will be the regional base in that area.
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