Deals
Minmetals Gets Copper Assets on Second Attempt in Anvil Deal
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Minmetals Resources Ltd., a unit of state-owned China Minmetals Group, agreed to buy Democratic Republic of Congo copper producer Anvil Mining Ltd. for HK$10 billion ($1.3 billion) to help source supply for China, the biggest consumer.
Minmetals will pay C$8 ($7.6) a share for each of Anvil’s, the Hong Kong-based company said today in a statement. The board of Anvil, listed in both Sydney and Toronto, has recommended the offer, it said. The offer is a 39 percent premium to Anvil’s closing Canadian share price yesterday.