M&As this week: Emeco Holdings, Avesoro Resources

3 November 2017 (Last Updated November 3rd, 2017 11:31)

Emeco Holdings has agreed to acquire Force Equipment for A$69.8m ($53.59m).

Emeco Holdings has agreed to acquire Force Equipment for A$69.8m ($53.59m).

The acquirer company provides mining equipment and maintenance services, while the target company is engaged in the supply of earth-moving equipment.

Both companies involved in the transaction are based in Australia.

Emeco proposes to issue a fully underwritten pro-rata accelerated non-renounceable entitlement offer to fund the acquisition.

“The acquisition is valued at £52.7m.”

Avesoro Resources has reached an agreement with Avesoro Jersey to acquire the gold exploration companies AAA Exploration Burkina, Cayman Burkina Mines, Jersey Netiana Mining, MNG Gold Burkina, and MNG Gold Exploration.

The acquisition is valued at £52.7m ($69.5m), which includes £38.6m ($51m) in consideration shares and £14m ($18.5m) in cash.

Based in Canada, Avesoro Resources is involved in the exploration, development, and operation of gold assets, while Avesoro Jersey is a gold exploration company based in Turkey.

AAA Exploration Burkina and Cayman Burkina Mines are UK-based mining companies, while MNG Gold Burkina is based in Burkina Faso and Jersey Netiana Mining is an exploration company based in France.