News: BHP Lundin Mining And BHP To Acquire Filo And Form A 50/50 Joint Venture; Offer Implies A...

July 29 (Reuters) - Lundin Mining Corp LUN.TO :

• LUNDIN MINING AND BHP TO ACQUIRE FILO AND FORM A 50/50 JOINT VENTURE TO PROGRESS THE FILO DEL SOL AND JOSEMARIA PROJECTS
• UNDER TERMS OF ARRANGEMENT AGREEMENT OFFER IMPLIES A VALUE OF C$33.00 PER FILO SHARE
• BHP WILL PAY LUNDIN MINING $690 MILLION AS CONSIDERATION FOR LUNDIN MINING CONTRIBUTING JOSEMARIA PROJECT TO JV
• EACH OF BHP AND LUNDIN MINING WOULD HOLD A 50% INTEREST IN JOINT VENTURE.
• LUNDIN MINING WILL CONTRIBUTE JOSEMARIA PROJECT TO JOINT VENTURE.
• FILO INTENDS TO USE PROCEEDS FROM FILO SHARE PLACEMENT TO FUND ONGOING EXPLORATION AND GENERAL WORKING CAPITAL EXPENSES.
• CASH IMPACT TO CO IN TRANSACTION MARGINALLY POSITIVE, PAYING CASH CONSIDERATION TO FILO SHAREHOLDERS OF C$859 MILLION
• BHP AND LUNDIN MINING AGREED TO JOINTLY ACQUIRE FILO FOR ABOUT C$4.1 BILLION, OR C$33.00 PER FILO SHARE
• LUNDIN MINING'S SHARE OF CONSIDERATION FOR FILO ACQUISITION IS ABOUT C$2,148 MILLION
• SHARE OF CONSIDERATION FOR FILO ACQUISITION CONSISTS UP TO C$859 MILLION IN CASH AND C$1,289 MILLION IN LUNDIN SHARES