Mick Davis’ X2 Said to Consider Bid for Anglo Mines in Brazil Cristiane Lucchesi, Juan Pablo Spinetto and Thomas Biesheuvel (Bloomberg News – February 10, 2016)


X2 Resources, the private-equity firm founded by former Xstrata Ltd. chief Mick Davis, is among companies considering a bid for Anglo American Plc’s Brazilian niobium and phosphate mines, said two people with knowledge of the matter.

Anglo hired Goldman Sachs Group Inc. and Morgan Stanley to sell the assets as a package valued at $1 billion, and is expecting to receive bids next week, the people said, asking not to be identified because discussions are private.

Anglo American, X2, Goldman Sachs and Morgan Stanley declined to comment.

London-based Anglo is looking to raise another $4 billion from asset sales to cope with a collapse in commodity prices, after generating about $2 billion by offloading its tarmac business, two copper mines in Chile and platinum assets in South Africa.

South32 Ltd., the aluminum, coal and manganese producer spun out of BHP Billiton Ltd. last year, is also considering a bid, three people familiar with the situation said last month.

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