Announced
Sail Minerals completed the acquisition of Chrometco for £10m.
Financials
Transaction Value£9m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For90%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-
Sources
Tags
Public
Acquisition
Pending
Friendly
Single Bidder
South Africa
General Mining
chrome exploration
mining
copper
cobalt
nickel
manganese
Majority
Synopsis
JSE-listed Chrometco has entered into conditional agreements with commodity trading company Sail Minerals that will result in Sail acquiring just less than 90% of Chrometco. In return; Chrometco will receive cash; a controlling stake in two fully financed chrome projects and a stake in Sail.
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