March 13, 2017 / 10:01 PM / a year ago

BRIEF-Trevali announces deal to purchase Glencore's producing Rosh Pinah, Perkoa zinc mines

March 13 (Reuters) - Trevali Mining Corp

* Underwriters to buy on bought deal basis, 191.7 million subscription receipts of trevali for C$1.20/subscription receipt

* Trevali announces agreement to purchase Glencore’s producing Rosh Pinah, Perkoa Zinc mines- creating a premier global zinc producer

* Deal for an aggregate purchase price of approximately US$400 million

* Consideration will be paid to Glencore on closing of transaction and will consist of about US$244 million in cash, subject to customary adjustments

* Deal expected to be funded through combination of new senior secured credit facility,proceeds from private placement of subscription receipts

* Will acquire portfolio of zinc assets from Glencore, including 80% interest in Rosh Pinah mine in Namibia 90% interest in Perkoa Mine in Burkina Faso

* Deal consideration will consist of approximately US$244 million in cash and issuance by Trevali of 175.1 million Trevali common shares

* Will acquire 39% interest in Gergarub project in Namibia, an option to acquire 100% interest in Heath Steele property

* Board of Trevali may terminate deal in favour of unsolicited superior proposal, subject to payment of termination payment of US$9 million

* Deal consideration will consist of 175.1 million Trevali common shares at a deemed price of C$1.20 per common share Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below