Anglo to Exit Platinum Spinoff Valterra with Stake Sale (2)

Anglo American Plc is seeking buyers for its 44.1 billion South African rand ($2.5 billion) stake in Valterra Platinum Ltd., just three months after spinning off the platinum mining business.

Valterra, formerly known as Anglo American Platinum, listed as a standalone company in London in June, as Anglo pushed ahead with a sweeping corporate overhaul. Anglo retained a 19.9% stake in Valterra, and will now offer it to institutional buyers, it said on Wednesday.

The shares have risen more than 30% since the launch, bolstered by a surge in platinum and palladium prices. It’s been a boon for Anglo, ...