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Camec plans to bid $1,9bn in shares for Katanga
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11th July 2007
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Central African Mining & Exploration Company (Camec) intends to make an all-share offer for Canadian-listed copper company Katanga, it said on Wednesday.

The company, which announced plans to bid for Katanga earlier this week, said that it would offer 17 Camec shares for every Katanga share, an improved ratio from the 15 to 1 that Camec announced in its earlier statement.

“The acquisition will create one of Africa’s largest copper and cobalt producers,” Camec, which already owns a 22% stake in Katanga, said in a note to shareholders.


 

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