The proposed transaction involves the sale by OZ Minerals of Sepon, Golden Grove, Century, Rosebery, Avebury, Dugald River, High Lake, Izok Lake and certain other exploration and development assets to Minmetals for US$1,206 million. OZ Minerals will retain Prominent Hill, Martabe, specific exploration assets in Cambodia and Thailand and its listed equity interests (including its interest in Toro Energy). Consistent with a sale of businesses on a “cash free, debt free” basis and based on normal levels of working capital, the actual amount received by OZ Minerals at completion of the transaction will be subject to certain adjustments related to the working capital, net debt and agreed tax liabilities of the assets sold to Minmetals. These adjustments will be calculated as at month end prior to completion date
OZL Price at posting:
63.0¢ Sentiment: ST Buy Disclosure: Held