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Galleon Holdings

  • BY: Andrew Hore |
  • POSTED: 12/11/2013 |

Galleon Holdings is in talks to acquire at least 85% of Aktobe Steel Production. 

The all share deal is expected to value Aktobe at £438m. At 11.5p, down 1.5p, Galleon is valued at £642,000.

The seller, Iron Extraction Corporation Hungary, is lending Galleon up to £400,000 to fund the costs of transaction, although no acquisition deal has been signed yet. The loan is for 12 months and the interest charge will be LIBOR plus 5%. The shares have been suspended pending publication of a document for the deal and the readmission of the shares in the enlarged group to AIM.

Aktobe is a region of Kazakhstan.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2013_49.pdf

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