Rio Tinto’s C$3.3 billion takeover bid of Turquoise Hill Resources has effectively been put on hold after the latter postponed a shareholder vote until an undetermined date. Read full article.
Read MoreTurquoise Hill sale hits another hurdle
Tag: Turquoise Hill Resources
Rio Tinto inks $3.3B agreement for Turquoise Hill ownership, Oyu Tolgoi stake
One week after coming to an agreement in principle, Rio Tinto has entered a binding agreement to acquire full ownership of Turquoise Hill Resources – picking up the 49% remaining stake it does not already own – in a deal worth C$43 per share cash, or about $3.3 billion. Read full article.
Read MoreRio Tinto offers $2.7B to take over Turquoise Hill
Rio Tinto has taken interest in acquiring the remaining shares it does not already own of Turquoise Hill Resources and the Oyu Tolgoi copper operation in Mongolia in a $2.7 billion cash proposal. Read full article from The Asia Miner.
Read MoreOyu Tolgoi partners move forward with project
Rio Tinto, Turquoise Hill Resources and the Mongolian government have reached an agreement that will move the Oyu Tolgoi project forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia. As part of the deal, Turquoise Hill will waive the $2.4 billion in debt owed to it by the Mongolian government. Commencement of underground…
Read MoreReview into Oyu Tolgoi costs ‘raises questions’ of Rio Tinto
Oyu Tolgoi partial owner Turquoise Hill Resources has commented on a third-party consulting report reviewing the ballooning costs and timeline for the Mongolian project, confirming it will be seeking clarifications from the authors. Read full article in The Asia Miner.
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