Anglo American combines with First Mode in $1.5B deal

Anglo American signed a binding agreement to combine its nuGen effort with First Mode, valuing the combined business at about $1.5 billion. Anglo American will inject $200 million and become majority shareholder. The transaction is expected to close in January 2023.

“The transaction, which is expected to close next month, values the newly combined business at around $1.5 billion and includes a $200 million equity injection from Anglo American.”geekwire.com

• 2 sources
• geekwire.comAnglo American follows through on $200M combination agreement with First Mode – GeekWireAlan BoyleDec 7, 2022
• lse.co.ukIN BRIEF: Anglo American to combine nuGen with investee First Mode | Financial NewsDec 7, 2022

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