£867 million, Chinese giants acquire top copper-gold mine in South America! The mine has been validated by international peers for many years, but has been hesitant due to high development difficulty
Jiangxi Copper, through its wholly-owned subsidiary Jiangxi Copper Hong Kong Investment, is acquiring all issued and to be issued share capital of SolGold at a cash price of 28 pence per share, valuing the deal at approximately £867 million. The acquisition price represents a premium of about 42.9% over the initial contact. The board of SolGold has recommended that shareholders support the acquisition, and has received irrevocable commitments from shareholders including BHP and Newmont, collectively holding approximately 25.7% of the shares. Additionally, the board of the target company has also provided letters of support for the acquisition, collectively holding approximately 2.8% of the shares
Wallstreetcn·
