BHP Billiton (BHP) shareholders have voted in favor of the demerger of metals and mining group South32. Paul Whitfield, correspondent for The Deal, explains why BHP Billiton shareholders approved the deal and what’s in store for both companies. Whitfield says through the deal, BHP will shed non-core assets like manganese and silver that don’t have the size, scale and longevity that the company wants to focus on. In turn, the move will give the company and its management the time and capital it can use to focus on its core assets. As for South32, Whitfield explains why Mick Davis, former chief executive of Xstrata, and Glencore Xstrata CEO Ivan Glasenberg are likely to vie for the company.
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