PERTH (miningweekly.com) – ASX-listed Oz Minerals has closed its takeover for fellow listed Avanco Resources, with a 97.7% interest.
The company previously started the compulsory acquisition process for the remaining Avanco shares after gaining a 90.46% interest in the takeover target.
Oz Minerals has previously said that the combination of the company’s strong free cash flow generation and balance sheet position, with Avanco’s suite of high-grade, high-growth assets, was compelling. Avanco was also believed to be a good fit for Oz Minerals to diversify its portfolio and add to its organic growth pipeline.