Friday 28 October 2016

Kenmare deal 'in the pipeline'


Mining firm Kenmare Resources could be acquired for €265m by Australian firm Iluka, marking an end to 30 years of Irish ownership.

Kenmare, whose managing director is Michael Carvill, said that the proposed terms of a possible takeover are subject to pre-conditions, and that there's no certainty a formal offer will be made.

But the board of Kenmare Resources told investors that it would be in the interests of shareholders to work towards sealing a takeover deal.

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