World News – UK – UK listed Kaz Minerals to be acquired by Nova Resources for £ 3 billion

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(Kitco News) – Kaz Minerals share price jumped more than 10% this morning after it was announced that Nova Resources was set to buy Kaz Minerals under a deal to Under the deal, Kaz Minerals shareholders will receive 640 pence per share

KAZ Minerals is a copper company specializing in large-scale, low-cost surface mining in Kazakhstan The Group is listed on the London and Kazakhstan Stock Exchanges The market capitalization of the company was slightly less than £ 3bn and the share price was hoping for around £ 570 just before the announcement of the agreement Nova Resources is an investment company The Company invests in public and private companies which provide support, assistance and services to natural resource industries

Kaz commented on the deal, saying: « In making its decision to recommend the terms of the acquisition, the Kaz Minerals Independent Committee has considered both the potential long-term value of Kaz Minerals and the risks inherent in realizing this value , « 

They added: “The Independent Committee believes that the acquisition provides Kaz Minerals shareholders with fair value for the operating assets and development portfolio of Kaz Minerals in Kazakhstan and Kyrgyzstan, and crystallizes value for Baimskaya which reflects the view of the Independent Committee on the increasing risks in this project « 

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KAZ Minerals, LON: KAZ, Resource, Oleg Novachuk