Deal Detail


Metorex

Acted for Metorex on its agreement with Sentinelle Global Investments (Pty) Ltd to acquire its 16% interest in Ruashi Holdings (Pty) Ltd. for an issue of 12,5 million new ordinary Metorex shares at R21.35 per share and R60 million cash (`the transaction`).

This gives Metorex a 100% interest in Ruashi Holdings (Pty) Ltd. Ruashi holdings (Pty) Ltd owns 80% of Ruashi Mining sprl, which has the rights to process the ore stockpiles on Ruashi and Etoile (Phase I) as well as the rights to exploit the Ruashi orebody (Phase II). The transaction increases Metorex`s effective interest in Ruashi Mining sprl from 67,2% to 80% with the remaining shares held by Gecamines, and significantly enhances arnings from the copper division.

Lawyers Involved:

 
 
   

 

In association with Bowman Gilfillan Africa GroupMember of Lex MundiMember of Employment Law Alliance