KWM, HSF on $846M Aussie Mining Deal
Chinese state-owned Guangdong Rising Assets Management Co. has made an offer to acquire Australian copper miner PanAust Ltd.
March 31, 2015 at 01:34 AM
2 minute read
King & Wood Mallesons is advising Chinese state-owned Guangdong Rising Assets Management Co. Ltd. on its $846 million bid for Australian copper miner PanAust Ltd.
GRAM, a Guangdong province-based company that invests in foreign mining assets, is offering $1.32 a share for the 76.5 percent of PanAust that it does not already own. The offer price is a 40 percent premium over the stock's closing price on March 27, the last day of trading before the offer was made on Monday.
The offer is open until May, according to an acquisition proposal filed to the Australian Securities Exchange.
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