Sale of Inmet's Antamina stake delayed
Article Abstract:
Inmet Mining Corp. found its scheduled sale of an ownership stake in a Peruvian mine delayed due to complex legal proceedings. Noranda Inc. and Teck Corp. are expected to buy the property for C$70 million. The sale of the Antamina copper and zinc mine is also the major factor behind the inability of Zemex Corp. of Toronto, Ontario, to conduct a hostile takeover of Inmet Mining worth C$517 million. The mine is anticipated to become the third-biggest zinc producer and seventh-biggest copper mine in the world, despite the existence of $2.2 billion in capital costs, noted Teck.
Comment:
Finds scheduled joint takeover with Noranda Inc. of ownership stake in a Peruvian mine delayed due to complex legal proceedings
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Paperboard selling half stake in French pulp mill to Tembec
Article Abstract:
Carton maker Paperboard Industries International Inc of Montreal, Quebec, has announced that it is selling its half stake in French pulp mill, Tartas SA, to partner Tembec Inc for C$35 million. Another C$10 million will be paid by Tembec depending on the pulp mills profitability in the next three years. Paperboard said that it will focus on its core boxboard business and will use the proceeds to reduce its C$21-million long-term debt.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A rich deal for directors of UrAsia. Labatt USA selling Rolling Rock brand to Anheuser
- Abstracts: A messy departure: Parizeau is preparing to step down amid scandal. Referendum fever: the dollar dives as the rhetoric rises in Quebec
- Abstracts: Peerless Carpet endorses U.S. takeover bid. Alcan merger seen fuelling slugfest. Stone merger sparks stock sale rumours
- Abstracts: Manulife seeking merger partner. Manulife delays plans for going public. Manulife share buyback approved
- Abstracts: Dutch parent puts Seaboard on block. Mutual Life plans to distribute all stock to eligible policy holders