ONEXIM declines merger of Intergeo and Canadian Mercator
Edited by Rhod Mackenzie / 2014-08-04 06:56:02
The ONEXIM Group of Mikhail Prokhorov has declined the merger of Intergeo (a part of ONEXIM) and Canadian mining company Mercator Minerals Ltd, and intends to seek other partners on the market, ONEXIM reports.
"As of August the 1st, one of the fundamental pre-conditions to the transaction wasn’t fulfilled. Thus, from August 1st this year, the transaction is terminated automatically,” - the report says.
Intergeo decided not to extend the time of the closing of the transaction. Initially, the deal was planned to be closed before May 5th, 2014. Intergeo fulfilled all the necessary conditions for the completion of the transaction, and agreed to extend the deal closing two times, last time until 31st July of this year.
