21st Dec 2021 08:11
(Alliance News) - BHP Group PLC on Tuesday said it has received regulatory and competition approvals for a planned unification under its Australian parent company.
The watchdog approvals include backing from the National Treasury of South Africa, the miner said.
Shareholder meetings to consider the unification will be held on January 20. The unification is expected to be completed on January 31.
Back in August, BHP announced plans to unify its corporate structure under its Australian parent company. The measures would move its listing to Sydney's Australian Securities Exchange. The move will see one of the largest components in London's FTSE 100 leave the index.
BHP shares closed up 1.5% at AUD41.71 each in Sydney on Tuesday. In Johannesburg, the stock was up 2.8% at ZAR460.45 on Tuesday morning. In early dealings in London, shares were up 2.1% at 2,192.00 pence.
By Eric Cunha; [email protected]
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