Anglo American Sells Two Units To Onesteel

On December 31, 2010, Anglo American plc completed the sale of its Moly-Cop and AltaSteel businesses to Australian steel and finished steel manufacturer OneSteel Limited for cash proceeds of US$1.08 billion.

Moly-Cop, a manufacturer of grinding media, has facilities in Canada, Chile, Peru and Mexico. AltaSteel, a vertically integrated mini-mill, is located in Edmonton, Alberta. The sale included joint venture interests in the Australian Donhad grinding media business and Canadian GenAlta Recycling. Anglo American plc, one of the world's largest mining companies, is headquartered in the UK and listed on the London and Jo-hannesburg stock exchanges.

Ray Jarman, General Counsel for OneSteel, was assisted by Allens Arthur Robinson , with a team led by Andrew Finch (corporate) and including Diccon Loxton (finance); Richard Bell and Annabel Verco (cor-porate) and Wendy Peter, Alexander Gelis and Verity Quinn (competition). Davies Ward Phillips & Vineberg LLP acted for OneSteel on competition matters with a team comprising John Bodrug and Rich-ard Elliott. Osler, Hoskin & Harcourt LLP also acted for OneSteel.

Ben Keisler, General Counsel, and Vanessa Dennett represented Anglo American with assistance from Shearman & Sterling LLP in New York as lead global counsel and McCarthy Tétrault LLP as Cana-dian counsel.

Shearman & Sterling was led by George Casey, Michael McGuinness and Rory O'Halloran (M&A); with a team that included Kenneth Prince, Jessica Delbaum and Matt Jennejohn (antitrust); Doreen Lilienfeld and Sean McGrath (executive compensation & employee benefits); Douglas McFadyen (tax); Samuel Waxman (intellectual property transactions); Jason Pratt and Seth Kerschner (property/environmental) and Gaurav Sud, Justin Mak and Naveen Thomas (M&A).

McCarthy Tétrault's team was led by Roger Taplin (business, mining) and Catherine Samuel (business); with a team that included Cameron Schepp (business); Oliver Borgers and Dominic Thérien (competi-tion); Michael Ford and Earl Phillips (labour & employment); Lorraine Allard (pension & benefits) and Nicholas Hughes and Kimberly Howard (environmental).