Kaz flips structure from scheme to offer amidst shareholder opposition

Kaz flips structure from scheme to offer amidst shareholder opposition

Nova Resources B.V. (Bidco), the vehicle acquiring FTSE 250 copper miner Kaz Minerals on behalf of company Chair, Oleg Novachuk, and director, Vladmir Kim, announced that it will now be implementing the acquisition by way of takeover offer.

Novachuk and Kim, who currently hold 39% of shares in Kaz Minerals, proposed to acquire the remaining 61% of shares and delist the company. The offer was originally structured as a scheme of arrangement – a structure many suitors opt for, as it guarantees the acquiring party will end up with 100% of the company, should the scheme be approved.

The court hearing and general meeting to approve the £3bn takeov

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