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Rio Tinto plc RIO has finally won the approval of Turquoise Hillâs board of directors to acquire nearly 49% of the issued and outstanding shares in the latter at C$43 per share. RIO currently holds a 51% stake in Turquoise Hill.
The deal now valued at $3.3 billion, is subject to Turquoise Hill shareholdersâ approval upon which, RIO can hold a 66% interest in Oyu Tolgoi, one of the largest known copper and gold deposits in the world.
Rio Tinto made its first offer on Mar 14, 2...
>>> Read more: Rio Tinto (RIO) to Buy Residual Stake in Turquoise Hill for $3.3B
The deal now valued at $3.3 billion, is subject to Turquoise Hill shareholdersâ approval upon which, RIO can hold a 66% interest in Oyu Tolgoi, one of the largest known copper and gold deposits in the world.
Rio Tinto made its first offer on Mar 14, 2...
>>> Read more: Rio Tinto (RIO) to Buy Residual Stake in Turquoise Hill for $3.3B
