BRIEF-Omnia Group offers to buy Nordex Explosives

Thu Jul 14, 2016 4:44pm EDT
 
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July 14 (Reuters) - Omnia Holdings Ltd :

* South Africa's Omnia Group to make all-cash premium offer to acquire Nordex Explosives Limited

* Intends to make an all-cash offer to purchase shares of Nordex Explosives Limited for C$0.20 in cash per share

* Offer will be made through Omnia's mining division in name of BME

* "Offer follows five months of negotiations with Nordex which were unsuccessful"

* Offer will not be subject to a financing condition and made from cash on hand

* While offer will be made without support of board of Nordex, Omnia remains open to discussing supported transaction with Nordex Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)