Orion Gold has announced that it has secured the necessary funding for the proposed acquisition of Agama Exploration & Mining.
The purchase consideration for the acquisition is ZAR53m ($4.17m), which includes ZAR31.5m ($2.4m) of cash payment and the remainder being from Orion’s shares.
Go deeper with GlobalData
Orion will also settle all existing shareholder loans amounting to approximately ZAR33.3m ($2.62m) for the target company.
The acquisition is expected to be complete before the end of this month.
Anil Agarwal of Vedanta Resources plans to acquire a £2bn ($2.5bn) stake in South Africa-based mining company Anglo American through his family trust, Valcon Investments.
See Also:
Upon completion of the acquisition, Anil Agarwal will become the second biggest shareholder in Anglo American, after South Africa’s Public Investment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe target company owns copper mines in Chile, iron ore operations in Brazil and South Africa, and the diamond exploration, mining and marketing company, De Beers.
