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Deal snapshot: BUSHVELD MINERALS ACQUIRES SOJITZ INTEREST IN STRATEGIC MINERALS.

MANews-(C)2009-2018

South Africa and Madagascar-focused mineral project development company Bushveld Minerals Ltd. (AIM: BMN) has completed the acquisition of a 21.22% interest in Strategic Minerals Corp. , an intermediate holding company of Vametco Alloys Proprietary Ltd.) from Sojitz Noble Alloys Corp. for a total cash consideration of USD 20m, the company said.

With completion of the acquisition, Bushveld has increased its indirect beneficial interest in Vametco from 59.1% to 75%. The company has acquired all of Sojitz' shareholding interest and accompanying rights in SMC, the 75% owner of Vametco, for a total consideration of USD 20m.

Country: South Africa

Sector: Metals/Mining

Target: Strategic Minerals Corp/21.22% stake

Buyer: Bushveld Minerals

Vendor: Sojitz Noble Alloys Corp

Deal size in USD: 20m

Type: Corporate Acquisition

Financing: Cash

Status: Closed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Date:Sep 17, 2018
Words:135
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