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BHP receive approval for the takeover of OZ Minerals

Published by , Editorial Assistant
Global Mining Review,

OZ Minerals has announced that Brazil’s Administrative Council for Economic Defence has provided clearance for BHP Lonsdale Pty Ltd’s proposed acquisition of 100% of the shares in OZ Minerals by way of scheme of arrangement.

As a result, the condition precedent regarding Brazilian competition approval has now been satisfied. The scheme remains subject to certain other conditions, including approval of the scheme by OZ Minerals shareholders and the court, as set out in the scheme implementation deed released by OZ Minerals on 22 December 2022.

Each of these conditions must be satisfied or waived (if applicable) before the scheme can become effective.

A scheme booklet is expected to be sent to OZ Minerals shareholders in early March 2023.

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