Company news in brief
Heavyweight nonexecs for AngloGoldAngloGold Ashanti has appointed Bruce Cleaver and Nicky Newton-King as independent nonexecutive directors of the company with effect from 22 July.
Cleaver was CEO of global diamond company De Beers Group from 2016 to early 2023 before becoming co-chair until the end of 2023.
He joined De Beers in 2005 and held various executive roles spanning business development and strategy before becoming CEO in 2016.
Prior to this he was a partner at Webber Wentzel, a leading South African law firm. He brings extensive commercial and mining experience to the board.
Newton-King was CEO of the JSE until 2019 and she joined the JSE in 1996 and held various executive roles before becoming CEO in 2012.
Newton-King is a corporate finance and securities regulation lawyer and brings extensive legal, business, regulatory and capital markets experience to the board, as well as knowledge of sustainability matters. - Fin24
Ascendis Health win legal battle
Ascendis Health announced it had won its legal battle against the Takeover Regulation Panel (TRP) after the watchdog concluded it had failed to fully disclose relationships of a consortium that has been looking to take the JSE-listed firm private.
Ascendis, valued at just under R500 million on the JSE, had strongly disagreed with a TRP ruling in June, which followed a complaint that a consortium headed by CEO Carl Neethling had not fully disclosed its relationships.
Ascendis strongly disagreed, maintaining the process had been unfair and unlawful, with the High Court in Johannesburg on Monday overturning the TRP ruling and remitting the issue back to the takeover regulator.
Neethling, however, said the consortium intends to let a long-stop date for the transaction of 20 July pass without an extension. - Fin24
Unilever recalls gravy sachets
Unilever's popular Knorr brand has recalled its Brown Onion Gravy sachets after a small batch was accidentally filled with another product.
Unilever South Africa said it had recently discovered a small batch of the sachets mistakenly contained the ingredients of the Knorr Professional Brown Sauce Base.
Consequently, the affected batch contains cow's milk and soy as allergens, which are not declared on the ingredients in the Knorr Brown Onion Gravy packaging.
Consumers who purchased packets from the affected batch – marked "BB 11 December 2025" or "BB 12 December 2025" – have been asked not to consume the products and return them to the nearest point of sale for a refund. - Fin24
BHP reports record iron production
Global mining giant BHP said streamlining efforts at its iron ore operations in Australia helped it book record production for the steelmaking ingredient in its year-to-end June when its copper output also climbed to a 15-year high.
Production guidance achieved for all commodities, with the group also metallurgical coal output falling almost a quarter, but still achieving the upper end of its revised guidance, Iron ore production increased 1% to a record 260 million tonnes to end June, with total copper production increasing 9% to about 1.86 million tonnes, the miner said in a production update for its fourth quarter to end June.
The group attributed the iron ore result amid port debottlenecking efforts, while copper got a boost from a planned move into higher-grade ore areas.
"[Western Australia Iron ore] continued its strong performance, delivering a second consecutive year of record production on the back of ongoing incremental improvements along its supply chain as we progress toward our medium-term goal of increasing production to greater than 305 million tonnes per annum," CEO Mike Henry said in the statement. - Fin24
Pernod Ricard selling wine business
French drinks giant Pernod Ricard it would sell its wine businesses in Australia, New Zealand and Spain to an Australian investment consortium, for an undisclosed amount.
The deal with Australian Wine Holdco Limited (AWL) involves total volumes of 10 million nine-litre cases and includes seven wineries.
"This disposal will allow Pernod Ricard to further strengthen its premiumisation strategy and to direct its resources to its portfolio of premium international spirits and champagne brands that drive the growth of its business," Pernod said in a statement.
The brands being sold include Jacob's Creek in Australia, New Zealand's Stoneleigh, and Campo Viejo and Ysios in Spain. - Fin24/AFP