21st Nov 2016 14:51
LONDON (Alliance News) - Sierra Rutile Ltd on Monday said it has received clearance from the German Antitrust Authority for its takeover by Iluka Investments (BVI) Ltd.
Sierra now expects the takeover to become effective on or around November 29.
Sierra agreed to be acquired by Iluka for GBP215.0 million in early August, prompting the German Antitrust Authority to initiate a phase II probe of the deal last month.
Shares in Sierra were trading up 9.4% at 35.00 pence on Monday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
SRX.L