Anglo American And BHP Major Shareholder PIC Demands Substantial Revision Of BHP Proposal For Anglo

(RTTNews) - Public Investment Corp. or PIC, a major shareholder of both Anglo American plc (AAUKY.PK, AAL.L) and BHP Group (BHP), on Wednesday said it requires a meaningful revision of the current BHP proposal for Anglo American to "reflect both the embedded value of existing Anglo assets and the future optionality and benefits that BHP can derive, specifically from Anglo's unlisted assets."

PIC added that there has to be future and perpetual participation by South African shareholders in the acquired assets through the JSE.

PIC said it recognizes the positive impact of Anglo American in the South African economy and the region at large, and the company's role in this regard should not be diminished as a result of the proposed offer by BHP.

PIC noted that it will continue to engage both companies.