BlackRock Cuts Shareholding in BHP Billiton
September 23 2015 - 7:20PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--BlackRock Inc., the world's largest asset manager, has
cut its shareholding in resources giant BHP Billiton Ltd. (BHP.AU),
offloading stock as a global commodities slump pushes its share
price to the lowest level since 2008.
BlackRock ceased to be a substantial shareholder in BHP, the
world's biggest miner by market value, on Sept. 22, according to a
regulatory filing to the Australian Securities Exchange.
BlackRock has in recent times been the top holder of BHP shares,
with a roughly 5% stake.
Shares in BHP have fallen sharply over the past year, as prices
for the main commodities it produces, including iron ore, coal and
crude oil, fall sharply. The stock fell as low as 22.41 Australian
dollars (US$15.69) last month, its weakest value since November
2008.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 23, 2015 19:05 ET (23:05 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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