Rio Tinto Shareholding In Riversdale Mining Rises To 52.6%

Rio Tinto PLC (RIO) has extended its majority control of Riversdale Mining Ltd. (RIV.AU), increasing its interest in the Africa-focused coal producer to 52.6% by early Monday.

The Anglo-Australian mining company has offered A$16.50 a share for Sydney-based Riversdale, valuing it at almost US$4 billion.

Rio Tinto said Friday it had assumed control of Riversdale as its shareholding in the company had passed the 50% level and was expected to rise further before the offer closes April 20. Riversdale has added three Rio nominees to its board and said executive chairman Michael O'Keeffe and a nonexecutive director would step down.

Riversdale operates a colliery in South Africa and is developing two coking coal operations in neighboring Mozambique. Coking coal is a key raw ingredient in making steel.

Steel producers Tata Steel Ltd. (500470.BY) of India and Cia. Siderurgica Nacional (SID) of Brazil together own 47% of Riversdale.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Riversdale Mining (ASX:RIV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024