Aviva In Strategic Merger With NEMI

BSE-listed Aviva Corporation has entered into a merger implementation agreement with Northern Energy Mining Inc (NEMI) to create a new growth-oriented international coal and energy group, Aviva has announced in a statement.

The combined entity will provide investors with exposure to operating and development stage assets across attractive metallurgical and thermal coal projects, the statement says.

Under the arrangement, Aviva shareholders will receive 0.59 NEMI shares for each Aviva share they hold at completion of the agreement. The merged group will maintain its primary listing on the TSX and the BSE.

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