By Rory Gallivan

LONDON--Anglo American PLC (AAL.LN) is selling its 9.7% stake in South African resources group Exxaro Resources Ltd. (EXX.JO) as part of its continuing efforts to reduce debt.

The sale will be conducted in a placing of shares through an accelerated bookbuild, the company said Wednesday.

At 1601 GMT, Anglo American shares were down 10 pence, or 0.8%, at 1,195 pence valuing the company at GBP16.47 billion ($20.5 billion).

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

November 30, 2016 11:29 ET (16:29 GMT)

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