Af Diamonds agree to takeover offer

Tuesday, October 05, 2010

Botswan Stock Exchange(BSE)-listed diamond junior African Diamonds have agreed to a P533 million (C$82 million) takeover by Lucara Diamonds in a deal that would create an emerging diamond producer controlling two new kimberlite mines.

According to a statement released by the company yesterday, African Diamonds, which jointly owns the AK6 project in the Boteti region with Lucara, recommended the takeover offer.

At the conclusion of the deal, current African diamonds shareholders would receive 0,80 of a Lucara share plus one share in a new company called Botswana Exploration, for every one share in African Diamonds.

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Af Diamonds agree to takeover offer

Botswan Stock Exchange(BSE)-listed diamond junior African Diamonds have agreed to a P533 million (C$82 million) takeover by Lucara Diamonds in a deal that would create an emerging diamond producer controlling two new kimberlite mines.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply