BHP Billiton set to spin off unwanted assets

MELBOURNE, Aug 15 (Reuters) : BHP Billiton declared its preference for a demerger of its unwanted aluminum, manganese and nickel assets on Friday, setting the stage for the formation of a separate company that one report said could be worth $14 billion.
BHP said its board was considering a spin-off at meetings ahead of its annual results announcement next week. One report said those plans were well advanced and would include the Nickel West business that the world's biggest miner has been trying to sell.
"A demerger of a selection of assets is our preferred option," the company, which has a market capitalization of $185 billion, said in a statement to the Australian stock exchange.