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China Bearing to acquire Indonesian nickel mine

Price of up US$120m in RTO deal to be paid in new shares

Published Wed, Aug 24, 2016 · 09:50 PM

Singapore

CHINA Bearing, which became a cash company after disposing of its operating subsidiary in December last year, is acquiring an Indonesian nickel ore mine via a reverse takeover (RTO) deal.

In an exchange filing on Tuesday, the group said that it will pay up to US$120 million through the issuance of new shares to the vendor, Far East Mining Pte Ltd.

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