Severstal subsidiary acquires shares in Intex Resources ASA
15.09.2010
OAO Severstal (“Severstal”) (LSE: SVST; RTS: CHMF),
one of the world’s leading vertically integrated steel
and mining companies, announces that it has acquired via its subsidiary
Lybica Holding B.V. (“Lybica”) 19,504,500 shares in Intex Resources ASA (“Intex
Resources”) at a share price of NOK 3.90 per share. As a result of the
acquisition, Severstal controls approximately 21.71% of the shares and votes of
Intex Resources.
Following the acquisition, Lybica aslo announces its
intention to make a voluntary offer (the "Offer") for all of the shares of
Intex Resources not currently owned by Lybica at the Offer price of NOK 3.90
per share, subject to the Oslo Stock Exchange’s approval of the Offer. The
complete details of the Offer, including all terms and conditions, will be
contained in an Offer Document which will be sent to Intex Resources’
shareholders following review and approval by the Oslo Stock Exchange. Lybica’s
official announcement on the Oslo Stock Exchange can be found at:
http://www.newsweb.no/newsweb/search.do?messageId=267233.
Boris Granovsky, Head of Strategy and Business Development
at Severstal Resources, OAO Severstal’s mining division, commented: “The
acquisition of the stake in Intex Resources ASA is part of our diversification
strategy into new commodities”.
Intex Resources ASA is a public mining and
exploration company listed on Oslo Stock Exchange with its headquarters also in
Oslo, Norway. Intex’s main asset is the Mindoro Nickel Project - a substantial
nickel laterite deposit in the Philippines. In addition, Intex has two
molybdenum assets in Norway, as well as Maniitsoq, a diamond province in
Greenland.
