Sandfire Resources (ASX:SFR) receives Spanish nod for $2.6b takeover

Company News

by Melissa Darmawan

Sandfire Resources (ASX:SFR) has received the nod from the Spanish competition authorities on its $2.6 million (US$1,865 million) takeover of Minas De Aguas Tenidas Mining Complex.

The Foreign Investment Authority and Competition Authority in Spain said that the two approvals satisfy the outstanding conditions, with the deal deemed unconditional.

Karl Simich, Sandfire’s managing director and chief executive officer said "the achievement of these key government approvals in such a short space of time is a fantastic result, which satisfies all outstanding conditions precedent under the sale and purchase agreement, clearing the way for this transformational transaction to be completed".

The transaction is slated to complete on or around 31 January next year.

Shares in Sandfire Resources (ASX:SFR) are trading 0.9 per cent higher at $6.65.

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