Vares project. (Image courtesy of Adriatic Metals.)
Dundee Precious Metals (TSX: DPM) has secured UK court approval for its acquisition of London-based silver-zinc miner Adriatic Metals (LON: ADT1), a deal that it now expects to close this week.
On Friday, the Toronto-based company said the High Court of Justice in England and Wales has sanctioned the $1.25 billion cash-and-stock deal that was announced in mid-June. With this approval, the deal is expected to go ahead and be completed on Wednesday, it said.
Post merger, Dundee and Adriatic shareholders will respectively hold 75.3% and 24.7% of the combined company. Its global headquarters will be kept in Toronto, while Adriatic’s UK office will shut down.
Separately, Dundee has also been granted approval for listing on the Australian exchange, with official quotation to be announced at a later date.
Expanded Balkan presence
The transaction…
