British mineral exploration and development company Afferro
Mining has announced that it has signed a definitive agreement with the
UK-based International
Mining and Infrastructure Company (IMIC) for the proposed acquisition of 100 percent of the issued and to be issued share capital of Afferro by IMIC.
According to Afferro
Mining's statement, the acquisition is valued at approximately $200 million and the acquisition price for each Afferro share is 120 pence. The acquisition is subject, amongst other things, to Afferro and IMIC shareholder approval and other customary conditions.