Rio Tinto gains control
Source: Agencies |
April 9, 2011, Saturday
|
Print Edition
Print Edition
ANGLO-AUSTRALIAN mining company Rio Tinto has gained control of Riversdale Mining by raising its share stake above 50 percent.
Rio Tinto yesterday said it hopes to increase its holding further as its takeover offer of A$16.50 (US$17.25) per share remains open until April 20.
Rio Tinto's holding exceeds the combined 47 percent stake of India's Tata Steel and Brazil's CSN. Tata has a separate 35 percent stake in Riversdale's key Benga coal mine in Mozambique.
Rio Tinto yesterday said it hopes to increase its holding further as its takeover offer of A$16.50 (US$17.25) per share remains open until April 20.
Rio Tinto's holding exceeds the combined 47 percent stake of India's Tata Steel and Brazil's CSN. Tata has a separate 35 percent stake in Riversdale's key Benga coal mine in Mozambique.
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