TORONTO – (April 12, 2011) Clearlease.com Reports Minmetals Resources Limited (HKSE: 1208) said Tuesday it has lined up the financing it needs to make its $6.3-billion unsolicited takeover offer for Equinox Minerals Ltd. (TSX:EQN).
Securing financing was a key condition of the proposed deal by the Chinese-owned company.
Minmetals said three Chinese banks will lend the company at least US$4.6 billion, while a Chinese institution will invest $600 million in equity in the company to help fund the takeover.
China Minmetals Non-Ferrous Metals Company Ltd., the company’s largest shareholder, has also agreed to lend Minmetals at least $700 million.
The balance of the money needed will come from the company’s cash reserves.
Minmetals has offered $7 per share for Equinox, which operates the Lumwana Mine in Zambia and is constructing the Jabal Sayid Project in Saudi Arabia.
The deal is also conditional on Equinox dropping its hostile takeover bid for Lundin Mining Corp. (TSX:LUN).
Equinox is listed on the Toronto and Australian stock exchange and has corporate offices in both countries.
The deal is expected to require approval under the Investment Canada Act, which requires foreign takeovers be of net benefit to Canada.
The Foreign Investment Review Board of Australia said last week that it has no objection to the Minmetals’ offer for Equinox.
Equinox shares were down two cents at $7.50 in trading on the Toronto Stock Exchange on Tuesday.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
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TORONTO – (April 12, 2011) Clearlease.com Reports Minmetals Resources Limited (HKSE: 1208) said Tuesday it has lined up the financing it needs to make its $6.3-billion unsolicited takeover offer for Equinox Minerals Ltd. (TSX:EQN).
Securing financing was a key condition of the proposed deal by the Chinese-owned company.
Minmetals said three Chinese banks will lend the company at least US$4.6 billion, while a Chinese institution will invest $600 million in equity in the company to help fund the takeover.
China Minmetals Non-Ferrous Metals Company Ltd., the company’s largest shareholder, has also agreed to lend Minmetals at least $700 million.
The balance of the money needed will come from the company’s cash reserves.
Minmetals has offered $7 per share for Equinox, which operates the Lumwana Mine in Zambia and is constructing the Jabal Sayid Project in Saudi Arabia.
The deal is also conditional on Equinox dropping its hostile takeover bid for Lundin Mining Corp. (TSX:LUN).
Equinox is listed on the Toronto and Australian stock exchange and has corporate offices in both countries.
The deal is expected to require approval under the Investment Canada Act, which requires foreign takeovers be of net benefit to Canada.
The Foreign Investment Review Board of Australia said last week that it has no objection to the Minmetals’ offer for Equinox.
Equinox shares were down two cents at $7.50 in trading on the Toronto Stock Exchange on Tuesday.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
TORONTO – (April 12, 2011) Clearlease.com Reports Minmetals Resources Limited (HKSE: 1208) said Tuesday it has lined up the financing it needs to make its $6.3-billion unsolicited takeover offer for Equinox Minerals Ltd. (TSX:EQN).
Securing financing was a key condition of the proposed deal by the Chinese-owned company.
Minmetals said three Chinese banks will lend the company at least US$4.6 billion, while a Chinese institution will invest $600 million in equity in the company to help fund the takeover.
China Minmetals Non-Ferrous Metals Company Ltd., the company’s largest shareholder, has also agreed to lend Minmetals at least $700 million.
The balance of the money needed will come from the company’s cash reserves.
Minmetals has offered $7 per share for Equinox, which operates the Lumwana Mine in Zambia and is constructing the Jabal Sayid Project in Saudi Arabia.
The deal is also conditional on Equinox dropping its hostile takeover bid for Lundin Mining Corp. (TSX:LUN).
Equinox is listed on the Toronto and Australian stock exchange and has corporate offices in both countries.
The deal is expected to require approval under the Investment Canada Act, which requires foreign takeovers be of net benefit to Canada.
The Foreign Investment Review Board of Australia said last week that it has no objection to the Minmetals’ offer for Equinox.
Equinox shares were down two cents at $7.50 in trading on the Toronto Stock Exchange on Tuesday.
We offer a simple application process available at http://clearlease.com/How-to-Apply.html .
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###