Abu Dhabi Interests Submit Cash Offer for Kenmare Resources Shares
What happened
Kenmare Resources confirmed receiving a non-binding proposal from International Resources Holdings RSC Ltd for a possible cash offer covering the entire issued and to be issued share capital. The proposal originates from a company controlled by interests linked to Abu Dhabi. Kenmare Resources stated that discussions are ongoing, and the offer has a deadline of November 17th.
From irishtimes.com
Why it matters
The news of the bid caused Kenmare Resources shares to soar by as much as 41 per cent in London. This corporate action takes place while a global debt crisis affects the Irish economy, which is linked to Abu Dhabi interests controlling Kenmare Resources operations.
Global debt crisis affects the Irish economy, linked to Abu Dhabi group controlling Kenmare Resources operations.
From irishtimes.com
Who's involved
- Kenmare ResourcesIrish mining company that received the bid proposal.
- Abu DhabiLocation whose interests submitted the bid proposal.
Keep exploring
The entities involved
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Abu Dhabi
capital city of the United Arab Emirates
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Kenmare Resources
Irish mining company
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