M&As this week: Magnetite Mines, Smartchem, Anitua Radial Drilling Services
Magnetite Mines Limited has reached an agreement with Coffee House Group to acquire a 100% stake in Lodestone Equities.
Magnetite Mines Limited has reached an agreement with Coffee House Group to acquire a 100% stake in Lodestone Equities.
Magnetite Mines is a mineral exploration company, while Lodestone Equities is an investment firm that owns the Olary high-grade magnetite project.
Both companies involved in the deal are based in Australia.
Smartchem Technologies Limited (STL) has reached an agreement to acquire 76% stake in Performance Chemiserve Private Limited (PCPL).
"PCPL will become a subsidiary of STL and a step-down subsidiary of DFPCL following the transaction."
A wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), STL is involved in the manufacturing of sheet metal fabrication. The target company is a chemical products manufacturer.
PCPL will become a subsidiary of STL and a step-down subsidiary of DFPCL following the transaction.
Anitua Radial Drilling Services has acquired Central Drillers, a company involved in water bore, geotechnical and environmental drilling.
Both parties in the transaction are located in Papua New Guinea.