BHP Billiton (BHP) outlined a plan to carve-out a suite of assets that will allow the mining giant to focus on fewer, large-scale resources operations. “In regulatory filings released to the Australian Securities Exchange, BHP said shareholders would vote May 6 on the plan to spin off a new company dubbed South32, which would see investors receive one share in the separate company for every BHP share. BHP last year announced its intention to spin off nickel, aluminum and other properties in what would be one of the biggest demergers in mining history.” Source
Carve-out
