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BHP Billiton says aiming to spin off unwanted assets

BHP Billiton said on Friday its preferred option for shedding its unwanted assets was to spin them off to shareholders, a path its board is discussing in meetings ahead of releasing annual results on Aug. 19.

“A demerger of a selection of assets is our preferred option,” the company said in a statement to the Australian stock exchange.

The company has long flagged that it wanted to sell or spin off its manganese, aluminium and nickelassets, which contribute very little to its earnings, and analysts have speculated it may also get rid of its South African energy coal and Cannington silver mine.

Source: Reuters


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