Paulson becomes biggest investor in AngloGold
| August 31st, 2009 | ||
| John Paulson’s hedge fund management firm Paulson & Co recently became the biggest investor in AngloGold Ashanti Ltd (NYSE:AU), a South Africa-based mining company. Paulson, who bought a $1.28 billion holding in AngloGold in March and now owns an 11.3% stake, said that AngloGold’s CEO Mark Cutifani is an “outstanding leader”. According to an article from Bloomberg, Gold prices have risen 6.9% this year as demand for gold rises as a safeguard against anticipated inflation and AngloGold plans to spend up to $1 billion developing in Columbia and Brazil in order to reduce dependence on fledgling gold mines in South Africa. According to the article, Cutifani noted that Paulson tends to be a very vocal shareholder, but so far all communications have been very supportive. | ||
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Paulson & Co. |
Related People: Andrew Hoine;
Related Entities: Paulson Advantage Master Ltd;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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