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Uranium One going-private transaction closes

18th October 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Uranium One on Friday announced that the C$1.32-billion going-private transaction by Russia’s Atomredmetzoloto (ARMZ) had closed.

With the plan of arrangement completed, Uranium One's shares would be delisted from the TSX on Monday.

The transaction, which helped ARMZ consolidate control over its uranium assets, was initially expected to be complete in the second quarter of 2013.

In January, ARMZ, which before the transaction owned 51.4% of Uranium One, offered minority shareholders C$2.86 a share. Uranium One shareholders approved the transaction on March 7, at a special meeting of common shareholders and option holders.

Within 30 days of the transaction being complete, Uranium One would make an offer to buy the $259.98-million principal amount of its convertible unsecured subordinated debentures due on March 13, 2015, as required under the terms of the debentures.

Edited by Creamer Media Reporter

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