10/28/2020, 9:05 AM (Source: TeleTrader)
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Nova Resources proposes buying Kaz Minerals for £3B

Investment company Nova Resources B.V. reached an agreement on Wednesday with the consortium controlling 40% stake in KAZ Minerals plc to purchase the Kazakhstan-based copper producer for £3.0 billion.

Under the terms of the agreement, shares of KAZ are valued at 512.4 pence, a 9% premium to the October 2 closing price and a 5% premium to the volume-weighted average price of 549.2 pence for the one-month period ended 27 October 2020.

The acquisition is subject to customary shareholder and regulatory approval.

Breaking the News / MD