Mining giant BHP to leave London's FTSE 100 for Sydney
Mining giant BHP is set to leave the FTSE 100 index after unveiling plans to scrap the dual listing of its shares in London and Sydney.
BHP regularly tops the list of the FTSE 100's biggest companies, depending on fluctuations in market values."Now is the right time to unify BHP's corporate structure," said its chairman Ken MacKenzie. "BHP will be simpler and more efficient, with greater flexibility to shape our portfolio for the future.
The move comes as BHP announced it was combining its oil and gas assets with Australia's Woodside, creating one of the world's ten biggest producers of liquified natural gas. Abandoning the dual listing unwinds a structure that has been in place in 2001, when Australia's BHP merged with the UK's Billiton. The company was known as BHP Billiton until 2017.
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