Oct 21, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- SMSFY | Quote | Chart | News | PowerRating -- Sam's Seafood Holdings Limited, engaged in wholesaling and retailing of seafood, has entered into a heads of agreement to acquire 100% stake in Innovation West Pty., Ltd. Both the companies are based in Australia.
Innovation West is currently in negotiations to acquire manganese and coal exploration projects in Indonesia.
Under the terms of the agreements, the consideration for the acquisition will include a cash payment of $0.1 million and the issue of 300 million ordinary shares in Sam's Seafood Holdings.
Deal Value (US$ Million) 8.38
Deal Type Acquisition
Sub-Category 100% Acquisition
Deal Status Announced: 2009-10-21
Deal Participants
Target (Company) Innovation West Pty., Ltd.
Acquirer (Company) Sam's Seafood Holdings Limited
Deal Rationale
The acquisition will provide Sam's Seafood Holdings with near term initial manganese mining operations and manganese exploration holdings in an emerging manganese province.
For full details for SMSFY click here.
Oct 21, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --...
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