November 15, 2016 / 7:12 AM / in a year

BRIEF-Lundin Mining agrees to sell interest in TF Holdings for $1.136 bln

Nov 15 (Reuters) - Lundin Mining Corp

* Lundin Mining-consideration to be received by company equal to implied value of co’s stake in TF Holdings based on deal between Freeport-Mcmoran Inc

* Lundin Mining-in connection with deal, Lundin Mining has waived its right of first offer to acquire freeport’s indirect interest in tf holdings

* Lundin-Termination fee of $100 million, which has been secured by a letter of credit that has been received by co, payable to co in certain circumstances

* Lundin Mining has waived its right of first offer to acquire freeport’s indirect interest in TF Holding

* Lundin-Agreed to sell indirect interest in TF Holdings Ltd to bhr partners affiliate for $1.136 billion in cash and contingent consideration of up to $51.4 million

* Lundin -contingent consideration consists of $25.7 million if average copper price exceeds $3.50/pound during 24-month period beginning on Jan 1, 2018

* Lundin -contingent consideration consists of $25.7 million if average cobalt price exceeds $20 per pound, during 24-month period beginning on Jan 1, 2018

* Lundin Mining announces agreement to sell interest in TF Holdings for $1.136 billion Source text for Eikon: Further company coverage:

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