https://www.miningweekly.com

Turquoise Hill forms special committee to consider Rio Tinto buyout offer

8th April 2022

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Canada-based Turquoise Hill Resources has formed a special committee of independent directors to consider the proposal made by the company’s majority shareholder Rio Tinto International Holdings to buy out the remainder of shares in the company.

Rio Tinto in March announced an unsolicited, nonbinding proposal to acquire, through a plan of arrangement, the 49% of outstanding Turquoise Hill shares held by minority shareholders for a consideration of C$34 apiece.

The special committee, with Maryse Saint-Laurent as chairperson, has appointed BMO Capital Markets as financial adviser and Blake, Cassels & Graydon as legal counsel.

Additionally, the committee has retained TD Securities as an independent valuator to prepare a formal valuation of the common shares of the company.

The committee will also consider Turquoise Hills’ liquidity needs and whether it should proceed with an equity offer to meet these liquidity requirements or consider other financing options.

Turquoise Hill operates and holds a 66% shareholding in the Oyu Tolgoi copper/gold mine in Mongolia.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 1.023s - 110pq - 2rq
Subscribe Now