O'Hanlon, O'Hanlon Group, Sichuan, private enterprises (Africa) Mining Co., Ltd. (hereinafter referred to O'Hanlon Mining), a wholly-owned acquisition of listed African mining company in Australia, the Sundance Resources Ltd. (hereinafter referred to Sanders), recently, this concern The planned acquisition has taken the most important step.
August 2, the "Daily Economic News" reporter was informed that the O'Hanlon Group's acquisition of the Sanders 100% equity acquisition plan has been the National Development and Reform Commission approved by It is worth mentioning, Sanders shares over the two companies had negotiated A $ 0.57 per share purchase price had fallen by more than 40%, so Saunders, the Board may recommend the offer after shareholders down 12%, is about acquisition of the total valuation of approximately $ 1.7 billion to 1.5 billion Australian dollars (about $ 1.57 billion) or so. Informed sources said the new offer will be A $ 0.50 per share.
According to the to O'Hanlon Mining, the acquisition program began in March 2010, O'Hanlon mining contributed more than $ 200 million (about 1.32 billion yuan) has acquired 16% of the shares in Sanders, together with the previous owner 3% of the shares, Chinese Dragon Mining has a 19 percent stake in the company, becoming its largest shareholder. After the completion of this acquisition, the two sides reached in September the same year, a wholly-owned acquisition plan. According to the plan, O'Hanlon mining to 0.57 Australian dollars per share acquisition of Sanders, 100% equity interest.
But Sanders' share price compared with the previous mutual agreement of AUD $ 0.57 per share purchase price had fallen by more than 40%, adjust the new offer to become the key to the current acquisition plan. Foreign media, Saunders, the Board of Directors may recommend that shareholders accept the offer of the O'Hanlon mining reduced by 12% after the acquisition, or A $ 0.50 per share, offer valuation will be $ 1.5 billion (about $ 1.57 billion) or so.
O'Hanlon mining executives on the news be confirmed: that the company is trying to consultation lowered the purchase price to Sanders. Prior to May 23 signed by both parties to amend the arrangements for the implementation of the agreement, the O'Hanlon Group will acquire the completion date is updated to mid-November 2012. It seems that if the acquisition goes well, in recent years, the share mine overseas generous O'Hanlon Group is expected during the year, entered the world's third-largest undeveloped iron ore.
Bring this acquisition program, O'Hanlon mining saw that Sanders is located at the junction of the Congo and Cameroon, a value of $ 4.7 billion the Mubarak iron ore project. Sanders is an international iron ore exploration and development company, its main assets is in Cameroon, the world's third largest undeveloped iron ore project Mubarak iron ore 90% stake. The project makes Sanders has a huge potential in Africa, especially West Africa's iron ore business.
It is understood that one of the Mubarak iron ore project in Cameroon government and Chinese enterprises to participate in investment projects, project pre-investment of up to $ 5,000,000,000, the late investment is expected to reach $ 3.7 billion, after the completion of the annual output of up to 100 million tons . Currently, the mine has proven reserves of 2.8 billion tons, over a hundred million tons of potential resources, can be developed about 50 years.
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