Zijin Mining agrees to take control of Zangge Mining for $1.87bn

Zijin offered 13.7bn yuan, about $1.87bn, for a stake of nearly 25% that gives it control of Zangge, a potash and salt-lake lithium producer in Qinghai. The deal also consolidates Zijin’s hold on the Julong copper project in Tibet, which the two companies own together.

Why it matters. Control can be bought without a full takeover when the stake carries board rights and the rest of the register is dispersed.

Source

MINING.COM

In the course

Module 9: The M&A process