OZ Minerals to compulsorily acquire all remaining shares in Avanco

Company News

by Anna Napoli

OZ Minerals (ASX:OZL) has edged one step closer to its acquisition of Avanco with acceptances for its offer now exceeding 90 per cent.

The mining company says it now intends to compulsorily acquire all of the remaining shares.

Avanco has one operating mine called Antas in the Carajas region of Brazil.

OZ Minerals CEO Andrew Cole says the acquisition provides an operating asset in Antas and adds to the company’s growth pipeline with development and exploration opportunities.

Avanco Shareholders who haven’t accepted the offer may still do so up until the 6th of July.

Shares in OZ Minerals (ASX:OZL) up 0.62 per cent to $9.76.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.