Sandfire (ASX:SFR) completes MATSA acquisition in Spain

Company News

by Lauren Evans

Sandfire Resources (ASX:SFR) has completed its acquisition of the MATSA mining complex in south-western Spain.

Following approval from the Spanish Government, Sandfire will exercise operational control and economic ownership at MATSA effective from yesterday.

The formal completion of the transaction follows satisfaction of the outstanding conditions precedent, including foreign investment authority approval in relation to Foreign Direct Investment in Spain and competition authority approval in late December last year.

The US$1,865 million acquisition was funded through a combination of existing cash reserves. 

Shares in Sandfire Resources (ASX:SFR) are trading 1.1 per cent higher at $6.79. 

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