UraMin Inc. acquired by AREVA Group
A month ago, BVI-registered UraMin Inc. entered into takeover agreement with CFMM, an indirect wholly-owned subsidiary of French nuclear energy group Areva; according to it, CFMM made cash offer to UraMin in the amount of $2.5 billion, for 100% of BVI company’s share capital.
After more than 88% of UraMin’s shareholders accepted the cash offer that was at $7.75 per UraMin share, Areva’s subsidiary has raised its total holding in the BVI company to 93%, - that is holding, directly and indirectly, of 301,469,701 shares.
As the holder of more than 90% of the shares of UraMin, CFMM will issue a notice to the BVI company requiring it to redeem the remaining shares not held by CFMM, in accordance with the British Virgin Islands law. UraMin (BVI) is expected to send a notice of redemption to the remaining shareholders, and then cancel its listing on the Alternative Investment Market of the London Stock Exchange and refuse from trading on the Toronto Stock Exchange.