News Column

BHP plans asset split, posts $13.8 billion profit

August 19, 2014



SYDNEY (AP) BHP Billiton, the world's biggest miner, has announced plans to split off some of its smaller assets into a separate company.

The company's announcement on Tuesday came as it posted a $13.8 billion annual profit.

BHP said the restructure will allow it to focus on its core iron ore, copper, coal, petroleum and potash businesses.

The new company will include some of BHP's aluminum, nickel, manganese, silver and coal assets, spread across five countries. It will be based in Perth, Australia, and listed on the Australian Securities Exchange, with a secondary listing in South Africa.

The proposed split is subject to regulatory approvals and will be put before shareholders for a vote. The spinoff is expected to be completed in the first half of 2015.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Associated Press


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters