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Article: AUST'S OZ MINERALS ABLE TO PAY URGENT DEBT ON US$1.4 ASSET SALE.
- Article from:
- AsiaPulse News
- Article date:
- June 11, 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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MELBOURNE, June 11 Asia Pulse - Debt-laden OZ Minerals Ltd (ASX:OZL) has finally secured a deal that will enable it to pay its bankers, after shareholders voted to sell most of the gold and base metal miner's assets to a Chinese group for US$1.386 billion.
At OZ Minerals' annual general meeting in Melbourne, shareholders voted overwhelmingly in favour of the sale to China Minmetals Non-Ferrous Metals Co (Minmetals).
Thursday's marathon meeting, which was dominated by shareholder questions about the Minmetals deal, came just hours after Minmetals increased its bid by 15 per cent from US$1.206 billion.
Analysts said the recent collapse of global ...