Commodity group Glencore and X2, a company set up by former Xstrata boss Mick Davis, are among the suitors of the Chilean copper assets put up for sale by global miner Anglo American, industry and banking sources said this week.The assets, which together could fetch up to $1 billion according to two banking sources, have also attracted the interest of private equity firm Warburg Pincus and mining companies Lundin and Nevsun Resources, the sources added.London-listed Anglo American has mandated Morgan Stanley and Goldman Sachs, according to sources, to sell its mines Mantos Blancos, Mantoverde, its 50.1 percent stake in the El Soldado mine and the Chagres smelter, all in Chile. The process however has only just begun and a sale is not expected until next year.After an assets review last year, Anglo American said it would divest assets that did not meet its return criteria.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.2% or $-0.07/share to $35.77. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9953130 shares of MS exchange hands on a given day and today's volume is recorded at 2573403.
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