Equinox completes $1.25B Citadel takeover

Company News

Equinox Minerals Ltd (ASX:EQN) says it has successfully completed its $1.25 billion takeover of Citadel Resource Group Ltd (ASX:CGG).

The copper miner launched its friendly bid in October and says it has now obtained a relevant interest of 98.8 per cent in Citadel.

Dual-listed Equinox says the merger will create a major international copper company with a pipeline of growth opportunities in Southern Africa and the Middle East.

In the 2010 financial year Equinox Minerals posted a net profit of $124.33 million.

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