EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces completing purchase by subsidiary ENRC Congo BV of 49.5% stake in Camrose Resources Limited

09.01.13 12:20
/KASE, January 9, 13/ - EURASIAN NATURAL RESOURCES CORPORATION PLC (London), whose common shares are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of December 28, 2012: quote Eurasian Natural Resources Corporation PLC ('ENRC' or, together with its subsidiaries, the 'Group'), today announces the completion of the private acquisition by its wholly owned subsidiary, ENRC Congo BV, of the remaining 49.5% of the share capital of Camrose Resources Limited ('Camrose'), as well as the outstanding minority shareholdings in certain Camrose subsidiaries. The amount paid for the shares was US$550 million. Camrose is now a 100% owned subsidiary of ENRC PLC. Felix J Vulis, Chief Executive Officer, said: "I am very pleased that we have concluded this strategic transaction, which enables us to gain maximum benefit from the development of the Camrose assets and to achieve our goal of becoming a material African copper producer." Mehmet Dalman, Chairman of ENRC, said: "I welcome the completion of this important value enhancing transaction. It is an integral part of the corporate governance and company structure optimisation which I set as a key priority when I assumed the chairmanship." unquote The full press-release is available on KASE website, at http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_281212.pdf [2013-01-09]