Orica announces sale of Minova to Aurelius Group
Published by Jessica Casey,
Editor
Global Mining Review,
Orica has entered into an agreement to sell its Minova business to Aurelius Group, a European based investment firm, for AUS$180 million, subject to transaction costs and customary completion adjustments.
This announcement follows Orica’s announcement in May 2021 of its intentions to pursue a sale, and the global sale process subsequently undertaken by Orica and its advisors.
Orica Managing Director and CEO, Sanjeev Gandhi, said: “The sale of Minova is consistent with our refreshed strategy, which identified Minova as non-core to Orica. This allows us to focus on our four key business verticals of growth: mining, quarry and construction, digital, and mining chemicals.
“The Minova business will benefit from new ownership with more focus and capital to support its growth.”
The transaction is expected to close in 1Q22, subject to regulatory approvals and other customary closing conditions.
Read the article online at: https://www.globalminingreview.com/finance-business/13122021/orica-announces-sale-of-minova-to-aurelius-group/
You might also like
Inauguration of the Simandou Integrated Project: A historic turning point for Guinea
The inauguration ceremony of the Simandou Integrated Megaproject was held at the Morébayah port, in the presence of His Excellency Mamadi Doumbouya, President of the Republic of Guinea, members of the Government, as well as numerous foreign Heads of State and ministers.