Chemicals - Agricultural
Premier African Minerals Ltd Announces Togo And Mali Subsidiaries Sale
Premier African Minerals Ltd announced that the acquisition by Ethiopian Potash Corp. of Premier's Togo and Mali subsidiaries (together the Transactions) was approved at the Annual and Special General Meeting of EPC shareholders held on 30 June 2013. The Transactions have closed in escrow pending final approval of the TSX Venture Exchange, which is expected shortly. Premier will update shareholders once TSX Venture Exchange final approval is obtained.
Syngenta AG To Acquire African Corn Seed Business
Syngenta AG announced that it will acquire MRI Seed Zambia Ltd and MRI Agro Ltd (MRI), a developer, producer and distributor of white corn seed in Zambia. The transaction is subject to regulatory approvals and is expected to close by the end of 2013. No financial details were disclosed.
Jiangsu Hongda New Material Co Ltd to Transfer 100% Stake in Subsidiary to Zhejiang Xinan Chemical Industrial Group Co Ltd.
Jiangsu Hongda New Material Co Ltd announced that it has signed a contract to sell a 100% stake in a subsidiary, which is engaged in production and sales of silicone material and silicone material product, to Zhejiang Xinan Chemical Industrial Group Co Ltd.
Elemental Minerals Ltd Receives All Cash Takeover Offer From Dingyi Group Investment Ltd
Elemental Minerals Ltd. and Dingyi Group Investment Ltd announced that they have, following the successful completion of a thorough technical and financial due diligence exercise by Dingyi, executed a bid implementation agreement (Bid Implementation Agreement), under which Dingyi will make an off-market takeover offer for 100% of the fully paid ordinary shares of Elemental (DingyiOffer). Dingyi to make an all cash takeover offer for Elemental at AUD0.66 per share, valuing Elemental at approximately AUD190 million. The Dingyi Offer is subject to a number of conditions (including Dingyi acquiring at least 50.1% of Elemental's shares and Dingyi shareholder approval requiring certain confirmations from the SEHK) but importantly is not conditional upon finance, Chinese regulatory or Foreign Investment Review Board approvals. Dingyi has agreed to subscribe for AUD5 million of Elemental shares at an issue price of AUD0.3407 per share and also provide Elemental with additional financing of up to AUD15 million through a secured convertible loan facility to provide working capital subject to satisfaction of all necessary shareholder approvals and other conditions.
Mineral'no-khimicheskaya Kompaniya Yevrokhim OAO Makes Mandatory Offer to Murmanskiy Morskoy Torgovyi Port OAO's Shareholders-Interfax
Interfax reported that Mineral'no-khimicheskaya Kompaniya Yevrokhim OAO (EuroChem) which owns 47.67% of Murmanskiy Morskoy Torgovyi Port OAO (MCSP), has made a mandatory offer to MCSP shareholders at a price of RUB 57,725 per ordinary share, EuroChem reported. MCSP received the offer on June 17 and has 70 days to accept it. EuroChem became the owner of 47.67% of MCSP's voting shares for RUB 3.1 billion on April 22. The latest transaction with MCSP's ordinary shares in the RTS Board system, which took place on April 2, put the price per share at $1,810 or RUB 56,300. Another 49.86% of MCSP's charter capital belongs to OJSC Siberian Coal Energy Company (SUEK). At the end of January, SUEK made a mandatory offer to MCSP's minority shareholders at a price of RUB 57,725 per ordinary share, par value RUB 1,507 each. The deadline to accept the offer was early April, but MCSP has yet to disclose the results.
Premier African Minerals Ltd Amends Terms Of Togo Phosphate And Industrial Mineral Assets Sale To Ethiopian Potash Corp
Premier African Minerals Ltd announced that, further to the announcement of May 24, 2013 relating to the acquisition by Ethiopian Potash Corp. (EPC), of Premier's Mali subsidiary G and B African Resources Mali SARL (Mali Sub), and its Togo subsidiary, G and B African Resources SARL (Togo Sub) for an aggregate consideration of 120,000,000 new shares in EPC (the Combined Transaction), on June 03, 2013 certain amendments to the sale and purchase agreement in respect of the Togo Sub have been agreed to satisfy the requirements of the TSX Venture Exchange (TSXV). The announcement dated May 24, 2013 stated that the Combined Transaction was subject, inter alia, to TSXV and EPC Shareholder consent. In accordance with the requirements of the TSXV, Premier has agreed to the removal of the escrow provisions in the Togo part of the Combined Transaction, pursuant to which the Togo sale would have completed in escrow with the ability for the transaction to be effectively cancelled and unwound in certain circumstances. Accordingly, pursuant to the terms of the amended Togo sale and purchase agreement, the sale of the Togo Sub will complete following the satisfaction of all conditions precedent and, on completion, the Togo Sub shares will be transferred to EPC and the 100 million EPC consideration shares will be issued to Premier. Following completion, Premier will hold approximately 42% of EPC and will be considered by the TSXV to be a Control Person.
Nantong Jiangshan Agrochemical & Chemicals Co Ltd Cancels the Plan to Acquire a 90% Stake in Ladda Group Holdings Co., Ltd
Nantong Jiangshan Agrochemical & Chemicals Co Ltd announced that it has canceled the plan to acquire a 90% stake in Ladda Group Holdings Co., Ltd. This was previously disclosed on November 20, 2012.
Li3 Energy Inc And Blue Wolf Mongolia Holdings Corp. Enter Into Merger Agreement
Li3 Energy Inc And Blue Wolf Mongolia Holdings Corp their entry into an Agreement and Plan of Merger for an initial business combination. Upon closing of the Agreement and Plan of Merger and the transactions contemplated thereby (the Transaction), Li3 will merge with and into a wholly owned subsidiary of Blue Wolf with Li3 surviving the Transaction. Depending on the timing and process of regulatory reviews and Li3 obtaining its requisite shareholder approval, the Transaction is expected to be completed on or before July 22, 2013. Following the closing, Blue Wolf intends to change its name to Li3 Energy Corp. and continue to list its securities on the NASDAQ Capital Market (NASDAQ), subject to satisfying NASDAQ's initial listing criteria. Li3 Energy Corp. intends to apply to list its securities on the TSX Venture Exchange. There are no assurances that Li3 Energy Corp. will be in listing or maintaining its securities on either NASDAQ or the TSX Venture Exchange.
Markets
- Sectors
- U.S.
- Europe
- Asia
Sector Summary
| Energy |  -0.28% |
| Basic Materials | -0.35% |
| Industrials |  +0.02% |
| Cyclical Goods & Services | +0.10% |
| Non-Cyclical Goods & Services | -0.28% |
| Financials | -0.19% |
| Healthcare | -0.11% |
| Technology | -0.01% |
| Telecoms | -0.34% |
| Utilities | -0.38% |
| DOW | 14,932.41 | -42.55 |
-0.28% |
| S&P 500 | 1,614.08 | -0.88 |
-0.05% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.52 | -0.13 |
-0.09% |
Analyst Research
| Report Title | Price |
|---|---|
|
Provider: Bohai Securities Co.,Ltd.
|
$115.00
|
|
Provider: Bohai Securities Co.,Ltd.
|
$81.00
|
|
Provider: GlobalData
|
$125.00
|
|
Provider: GlobalData
|
$125.00
|
|
Provider: GlobalData
|
$125.00
|
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
