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Article: AUSTS OZ MINERALS GETS REVISED CHINA MINMETALS BID OF US$1.2 BLN.
- Article from:
- AsiaPulse News
- Article date:
- April 3, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, April 3 Asia Pulse - China Minmetals Corp has negotiated a new investment plan with Australia's OZ Minerals to buy most assets of the miner after the Australian government rejected its earlier takeover proposal due to security concerns.
China's biggest metals trader will spend A$1.75 billion (US$1.2 billion) to take over OZ Minerals' zinc, gold and copper projects in Australia and Laos and certain other exploration and development assets, OZ Minerals yesterday said in a statement on its website.
Minmetals last month offered the Australian miner 82.5 cents per share (a 50 per cent premium) but the proposal was rejected by Australia's Federal ...