China Guangdong Bids £756M For Kalahari

Chinese state-owned nuclear power company, China Guangdong Nuclear Power, is seeking to buy Aim-quoted Kalahari Minerals, Financial Times reports. China Guangdong will pay 290 pence per share in cash for Kalahari, valuing the company at £756 million.

Kalahari holds a stake in the Husab uranium project in Namibia, the world’s fifth-largest known primary uranium deposit, through its 42.7% shareholding in Australia-quoted Extract Resources. As per Australian securities and investment commission rules, any investor purchasing more than 20% of Extract has to make the same offer to the remaining shareholders.

Click here for the story from Financial Times.

Click here for additional coverage from The Wall Street Journal.