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Oz remains mum on share sale

Oz remains mum on share sale

Photo by Bloombeg

1st October 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – While copper miner Oz Minerals remains mum about reports that a private equity firm will buy a stake in the company, its shares were trading nearly 20% higher on the news on Thursday.

Reports emerged on Thursday that global equity firm KKR & Co had taken a 10% interest in Oz Minerals, following an overnight transaction. The Financial Review reported that the shareholding was acquired at A$3.60 a share.

While Oz Minerals acknowledged the media reports, the company did not reveal any details of the transaction, saying it would keep shareholders informed of all significant developments, as they occurred.

Oz Minerals' shares were trading at a high of A$4 a share on Thursday, up from an opening price of A$3.65 a share.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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