[miningmx.com] — THE controlling shareholder of Sallies has agreed to sell its stake in the fluorspar miner to a minority backer, according to a company statement released on Tuesday.
London-listed Maghreb Minerals said it would purchase the 66.9% stake in Sallies held by Firebird Management, which will provide it an aggregate holding of 78.3% in Sallies given its existing 11.4% share.
“The transaction between Maghreb and Firebird will result in a change in control in Sallies and trigger a mandatory offer to Sallies shareholders and debenture holders,’ read the announcement.
The parties to the transaction said they would release the terms of the deal in due course.
