[miningmx.com] – SOUTH Africa’s Competition authorities provided their unconditional approval for the takeover of Village Main Reef (VMR) by Chinese company, Heaven-Sent Capital Management Group, the company announced today.
VMR said in February that it had received a cash bid from Heaven Sent of R637m, equal to R12.25/share which represented a 46% premium over the mining firm’s 30-day weighted average at that time.
“Heaven-Sent found Village to be the kind of vehicle with its gold and platinum assets they’d like to use to establish themselves in the South African market,’ said Village Main Reef CEO, Ferdi Dippenaar.
