18 February 2010
Eurasian Natural Resources Corporation PLC
Acquisition of Chambishi Metals and Comit Resources
London - Eurasian Natural Resources Corporation PLC (‘ENRC’ or the ‘Group’) today announces that it has entered into a conditional agreement (‘the Transaction’) to acquire 100% of Enya Holdings BV (‘Enya’) which holds a 90% interest in Chambishi Metals PLC (‘Chambishi’), a Zambian copper and cobalt producer, together with a 100% interest in Comit Resources FZE (‘Comit’), a Dubai-based marketing and sales company that historically has handled Chambishi’s copper and cobalt sales. The aggregate consideration for the Transaction amounts to US$300 million, which will be wholly funded from ENRC’s existing cash resources. The Transaction remains subject to the satisfaction or waiver of certain conditions precedent and is expected to be completed no later than the end of June 2010. (more)
