GREY:HRIVF - Post by User
Post by
polarbearmeon Dec 15, 2010 9:17am
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Post# 17848739
SCM
SCMThis one week old info ,do you think IPO could be postponed further into 2011
Dec 09, 2010 (MANAVIGATOR via COMTEX) --Canadian gold miner Sacre-Coeur (cve:SCM) said Thursday that Severstal(lon:SVST) is still conducting due diligence related to its proposedacquisition by the Russian steel group and expects to round off the dealno later than 31 May 2011.Severstal Gold's cash offer of CAD1.60 (USD1.60/EUR1.20) per Sacre-Coeurshare announced on 22 September 2010 by the two parties is subject tosuccessful due diligence, court approval and clearance by Sacre-Coeur'ssecurity-holders, among other closing conditions.The transaction allows Severstal Gold to enter South America throughGuyana, where Sacre-Coeur has gold mining assets, while providing theCanadian company with liquidity.Country: Canada,Sector: Metals/MiningTarget: Sacre-Coeur Minerals LtdBuyer: Severstal' OAOType: Corporate acquisitionFinancing: CashStatus: ExclusivityComment: Deal to close by 31 May 2011