|
Shanta Gold Ltd - East Africa-focused gold producer - Says that unconditional approval has been received from the Tanzanian Fair Competition Commission for its acquisition by Saturn Resources Ltd. In March, Saturn increased its offer for Shanta to 14.85 pence per share, valuing the company at around £156.1 million. On Thursday, Shanta shareholders voted in favour of the acquisition by the Africa-focused resource developer, and the company expects the deal to become effective within the first half of 2024. The takeover remains conditional on, among other things, receipt of regulatory approvals from the Tanzanian mining commission and the Kenyan cabinet secretary for Mining, Blue Economy and Maritime Affairs. Current stock price: 14.38 pence per share, up 0.3% in London on Monday 12-month change: up 17% Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
