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MANILA - (UPDATED 1:22 p.m.) DMCI Holdings Inc. and a UK investment company are set to take over a nickel mining company listed in the London Stock Exchange AIM Market with significant assets in Luzon.
In a disclosure to the Philippine Stock Exchange, Consunji-led DMCI said it made a joint offer with D&A Income Ltd. to acquire all of the existing shares of ENK Plc for 0.19 pounds apiece.
Total takeover price was pegged at 49.8 million pounds, ENK told the LSE. DMCI's share would amount to 31 million pounds.
The offer was agreed and recommended by the current board of directors of ENK, which owns two nickel deposits in the Philippines: Acoje in Zambales and Zambales Chromite.
ENK is finalizing a bankable feasibility study for the two mines.
DMCI has interests in construction services, power generation, water utility, infrastructure development, real estate, mining and coal exploration.
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