LONDON (Alliance News) - Copper miner Kazakhmys PLC said Friday that it had accepted an offer from Eurasian Natural Resources Group B.V for the buy back of its share in Eurasian Natural Resources Corporation PLC. Kazakhmys had a shareholding of around 26% in the company.
No financial details of the offer were divulged.
Eurasian Resources is an investment vehicle of three of the founders of ENRC. The founders, along with the Kazakh government, are trying to buy out minority investors in the company which they listed in London in 2007. In August, they said they would sell some international assets, reversing an expansion that has diversified the company into markets including Africa and Brazil.
Kazakhmys shares were trading down 1.00 pence at 253.10p Friday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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