CIC invests in Teck
- Publishing Date
- 03 Jul 2009 4:34pm GMT
- Author
- Mining Journal
China Investment Corp (CIC) has purchased a 17.2% equity interest in Teck Resources Ltd through a wholly-owned subsidiary. CIC is paying C$17.21/share for 101.3 million Class B subordinate voting shares. Teck announced that it will apply the net proceeds of the transaction to reduce outstanding bank debt.
On closing, CIC will indirectly hold 17.5% of Teck's outstanding Class B shares, representing 17.2% of the Vancouver-based company's equity and 6.7% of its voting interest.
Upon completion of the transaction, Teck's Class A shareholders as a group will hold a 61.8% voting interest in Teck, with Temagami Mining Co holding a 28.5% voting interest.
ALSO IN THE ARCHIVE...
More News By Subject
Site Search
Log in
-
Features
-
Editor's Comment
Geologists- Senior and Junior Positions
Gryphon Minerals is aggressively growing its world class Banfora Gold Project in Burkina Faso, West Africa.
Mining and Metals Opportunities - Hatch
Mining and Metals Opportunities in London and Globally: Senior and junior roles.
Minerals Geoscientist Vacancy - Neftex
Do you want to help develop the world’s most detailed commercially-available 4D Earth Model to support the mining majors?
Opportunities for Senior & Principal Level Consultants - SRK
Professionals needed for central Moscow office.
Senior Hydrogeologist - Schlumberger
We need you in Australia or Canada
Mining Journal is looking to employ a full-time member of staff in British Columbia
Comments