14th Sep 2016 08:29
LONDON (Alliance News) - Minerals sands producer Sierra Rutile PLC on Wednesday said it remains in discussions with Iluka Investments (BVI) Ltd regarding how to proceed in respect of the review initiated by German competition regulators.
Sierra Rutile agreed to be acquired by Iluka for GBP215.0 million in early August, and last week said the German Antitrust Authority had initiated a phase II probe of the deal. The authority has up to three months to investigate the deal.
Sierra Rutile said a further update will be announced in due course.
Shares in Sierra Rutile were untraded on Wednesday, last quoted at 29.52 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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