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Mondi demerger from Anglo American gets go-ahead from High Court

Jill Park, packagingnews.co.uk, 02 July 2007

Mondi's demerger from mining group Anglo American received court approval today.

The packaging group will become a dual-listed company comprising Mondi Ltd (MLTD), which will look after its South African assets, and Mondi plc (MPLC), a UK-incorporated company holding Mondi's non-African assets.

At 10am today, the High Court approved the reduction of capital of MPLC and made a court order to register this with the registrar of companies by 4pm today.

Upon the registration, Mondi will be granted its dual-listing company status.

The packaging group hopes the split from Anglo American’s mining operations will make it easier for investors to evaluate its potential.

On Tuesday 3 July, holders of Anglo American ordinary shares will receive MLTD and MPLC ordinary shares in proportion to their existing holdings in the company.