SOUTH32 (S32)

Asset Sale: South32 sold a package of four non-core base metals royalties to London Stock Exchange listed Anglo Pacific Group Plc for cash and shares. The total sale price includes $185m of fixed consideration plus contingent payments of up to $15m from assets and projects largely in copper and nickel in Australia, USA and Chile. Macquarie have an outperform recommendation on the stock with a 6700c target price, or 61% upside to yesterdays' closing price.