LONDON, Aug 29 (Reuters) - The founders of Kazakh miner ENRC, bidding to buy out minority shareholders, said onThursday that a majority of small investors had taken up theoffer, taking acceptances to 94.5 percent and all butguaranteeing success.
The trio of billionaire founders, working with the Kazakhgovernment, already has the support of ENRC's largestshareholder, rival Kazakhmys, after a shareholder voteearlier this month. But it said after the first deadline foracceptances on Aug. 28 that small shareholders, accounting for14.6 percent of stock, had also taken up the offer.
Including a 26-percent stake held by Kazakhmys and almost 54percent held by the government of Kazakhstan and the foundersthemselves, that takes acceptances to 94.5 percent.
The $4.8 billion deal, which will take ENRC private afteralmost six troubled years on the London market, is stillawaiting final regulatory clearances but is unconditional inrespect of acceptances. Remaining shareholders now have untilSept. 11 to take up the offer.
The offer, $2.65 in cash plus 0.23 of a Kazakhmys share forevery ENRC share, is worth about 242 pence per share at currentprices. ENRC closed at 227.6 pence on Wednesday .