https://www.engineeringnews.co.za

South Africa’s BME to make play for Canadian explosives firm

15th July 2016

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Omnia Holdings will, through its BME subsidiary, make an all-cash offer to acquire Canadian firm Nordex Explosives for C$0.20 a share.

“Today, we are announcing our intention to make this premium all-cash offer to Nordex shareholders. Unfortunately, the directors of Nordex were unable to see the value proposition in our previous proposals and, accordingly, we are taking this offer directly to the Nordex shareholders.

“Nordex remains a heavily indebted company and once the offer is mailed, we intend to commence discussions with its major debtholders in order to restructure and repay its outstanding debt,” BME MD Joseph Keenan said in a statement released in Canada on Thursday.

Omnia expected to mail its takeover bid circular by the end of July. It added that, while the offer was made without the support of Nordex’s board, Omnia was open to discussing a supported transaction with Nordex.

Nordex in June received a C$0.15 a share cash offer from Société Anonyme d'Explosifs et de Produits Chimiques.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.058 0.393s - 140pq - 2rq
Subscribe Now