It is reported that Minmetals Resources foreign subsidiary, Album Enterprises plans to spend CAD 1.33 billion to acquire all issued ordinary shares of Anvil Mining, a copper mine exploration firm in the Democratic Republic of Congo.

The subsidiary of Minmetals Resources’ share controller, China Minmetals Non-Ferrous Metals Group will provide acquisition financing to Album Enterprises to acquire AVM.

Shares of AVM are trading at CAD 8.00 per share in this acquisition, 39 percent higher than the trading price of CAD 5.77 per share on the Toronto Stock Exchange.

(Sourced from yicai.com)