Chinalco gains control of Peru Copper

Aluminium Corp of China (Chinalco) has completed its offer to acquire the shares of Peru Copper, the Chinese company said.

When the offer expired, 113.4 million shares or around 91 percent of Peru Copper`s outstanding shares had been tendered to company.

Chinalco is paying C$6.60 ($6.17) per share for Peru Copper, up from its initial offer of $6.20 when the two companies first signed the acqusition deal in June (MB Jun 12). The deal was worth $792 million at the time.

It will compulsorily acquire all outstanding shares not tendered to the offer under the Canada Business Corporations Act, it said.

Chinalco intends to apply to de-list Peru Copper shares from the Toronto Stock Exchange, the America Stock Exchange and Lima Stock Exchange.

Publication: Metal Bulletin
Provider: Metal Bulletin com
Date: August 1, 2007