25th Oct 2013 17:11
LONDON (Alliance News) - Hellermanntyton Group will replace Eurasian Natural Resources Corporation PLC on the FTSE 250 as of October 30 following the offer for ENRC by Eurasian Resources Group BV being declared wholly unconditional, ENRC said Friday.
Eurasian Resources is an investment vehicle of three of the founders of ENRC. The founders, along with the Kazakh government, are trying to buy out minority investors in the company which they listed in London in 2007. In August, they said they would sell some international assets, reversing an expansion that has diversified the company into markets including Africa and Brazil.
Copper miner Kazakhmys PLC accepted an offer from Eurasian Resources to buy back its 26% share of ENRC October 4th.
Hellermanntyton is an industrial supplier, its shares closed up 1.1% at 289.00 pence Friday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @hanassallnews
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