Brazil’s competition authority has launched an investigation into Anglo American’s plan to sell its nickel operation in the country, adding another complication to the UK-listed mining group’s restructuring efforts.
Cade, the country’s main antitrust body, confirmed it had opened a probe into the $500mn deal Anglo agreed in February with MMG Singapore Resources, which is part of China-backed MMG, in response to a complaint.
“Based on a complaint received, an Administrative Procedure for Investigating an Act of Economic Concentration was instituted,” said Cade, which is responsible for enforcing competition law.
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