CHINA TOPIX

Anglo American Sells Brazilian Business to China Molybdenum Co. for $1 Billion

Charissa Echavez   |

Apr 29, 2016 12:42 PM EDT

Anglo American PLC has signed an agreement to sell one of its largest Brazilian business for 9.7 billion yuan ($1.5 billion) to China Molybdenum Co. According to the Wall Street Journal, this represents another step of Anglo American's plan to sell its non-core assets and cut back debts.