Dundee Precious Metals Inc. (DPM.TO), Friday announced the decision to buy UK-based Adriatic Metals for a total value of approximately $1.3 billion, acquiring 100 percent stake in the Vares operation in Bosnia and Herzegovina.
As per the terms of the deal, Adriatic shareholders will receive 0.1590 New DPM Share and 93 pence in cash for each Adriatic share.
The company expects the transaction to be accretive, on a cash flow per share basis, in the first year post-completion, delivering attractive returns to the shareholders, creating value from corporate and other operational synergies, enhancing financial flexibility, developing mine and launch operations at its Coka Rakita Project, and boosting market relevance.
Thursday, DPM closed at C$20.52, up 0.93 percent on the Toronto.
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