Company Briefs

Lion Asiapac details Aussie unit's deal

QUICKLIME supply, scrap metal trading and investment holding company Lion Asiapac yesterday announced details about a deal involving Mindax - which is 12.7 per cent held by LAP Exploration, a wholly owned subsidiary of Lion Asiapac. Mindax, an Australia-listed minerals company, has entered into a binding agreement with Perpetual Mining Holding. The latter will acquire 51 per cent of Yilgiron from Mindax for a consideration of A$52.3 million (S$62 million). Mindax also proposes to make a bonus share issue to all shareholders, by issuing four new shares for each one existing share at zero consideration.

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