Photo by: Bloombeg
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.