CENTRAL ASIA METALS BECOMES SASA'S NEW OWNER.
Central Asia Metals PLC headquartered in London, Great Britain, officially became the new owner of Sasa of Makedonska Kamenica when the procedure of taking over 100 percent of Lynx Resources Limited, the mine's former owner, was completed on the London Stock Exchange.
Central Asia Metals bought Lynx Resources Limited for 402.5 million dollars.
The company was earlier issued an acquisition permit by the Commission for the Protection of Competition of the Republic of Macedonia. The acquisition was carried out by the rules of the London Stock Exchange on which Central Asia Metals is listed.
"We are satisfied that the acquisition process ended successfully and that a way opened up for a successful future for Sasa. We trust that with this we are going to give an additional impetus to the overall development of the local community as well as the Macedonian economy," said Central Asia Metals CEO Nick Clarke.
Central Asia Metals has extensive operative experience. It owns 100 percent of the Kounrad open-pit copper mine and 80 percent of the copper exploration concession at Shauk. Both sites are in Kazakhstan.
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|Title Annotation:||BUSINESS NEWS|
|Publication:||INFOMAC Daily News Service|
|Date:||Nov 7, 2017|
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