Ads by Google

Rio Tinto acquires additional 9.8% stake in Ivanhoe Mines

Nov 02, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Companies:

Rio Tinto Limited, an Australia-based mineral mining company, has invested $388 million in Ivanhoe Mines, Ltd., a Canada-based company engaged in the acquisition, exploration and development of mineral resources, in a private financing transaction.

As a result of the transaction, Rio Tinto has increased its stake in Ivanhoe Mines to 19.7% from 9.9%.

Announcement (October 13, 2009):

Rio Tinto has entered into an agreement to invest $388 million in Ivanhoe Mines. Under the financing, Rio Tinto will purchase 46.3 million shares, representing 9.8% stake, in Ivanhoe Mines at a subscription price of $8.38. 

Deal Value (US$ Million) 388
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-10-28

Deal Participants 

Target (Company)   Ivanhoe Mines, Ltd.
Acquirer (Company) Rio Tinto Limited

% Acquisition             9.8%
Offer Price ($ per share) 8.38
No. Shares Issued         46304473

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Companies:


Related terms: acquisition, australia, canada, exploration, mining, Private Placement, subscription

Related Articles

Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi Copper-Gold Mining
Oct 28, 2009
Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi...October 13, 2009. Rio Tinto's equity ownership in Ivanhoe Mines now has increased...part of the original Ivanhoe Mines-Rio Tinto strategic partnership...

A Toast to Champagne Diamond Jewelry
Oct 31, 2009
...Diamond Jewelry October 31, 2009 Rio Tinto and the Natural Colored Diamond Association...Diamond Design Competition sponsored by Rio Tinto were also on display (if you recall...Foerster, manager of the US office for Rio Tinto’s diamonds sales and marketing, and...

Eurofer wants iron ore venture scrapped
Nov 18, 2009
...between two of the world's largest iron ore miners, BHP Billiton and Rio Tinto Group, claiming the joint venture could hike prices for iron ore. As reported, Rio Tinto and BHP Billiton began planning the iron ore joint venture in June in...

Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi Copper-Gold Mining
Oct 28, 2009
Ivanhoe Mines Receives US$388 Million From Rio Tinto to Advance Oyu Tolgoi...October 13, 2009. Rio Tinto's equity ownership in Ivanhoe Mines now has increased...part of the original Ivanhoe Mines-Rio Tinto strategic partnership...