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Message Subject *** Fukushima *** and other nuclear-----updates and links
Poster Handle Anonymous Coward
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Canada's Uranium One to go private in $1.3 billion deal

Russian state-controlled miner JSC Atomredmetzoloto has agreed to raise its stake in Uranium One Inc (Toronto:UUU.TO - News) to 100 percent in a deal that values the Canadian miner at C$2.74 billion ($2.8 billion).

Atomredmetzoloto, or ARMZ, already owns 51.4 percent of Uranium One. It will pay C$1.3 billion, or C$2.86 per share, for the rest of the company before delisting it from the Toronto Stock Exchange, both companies said on Monday.

ARMZ's offer is at a 19 percent premium to the stock's Friday close. Uranium One's shares have fallen to C$2.41 from a peak of C$18.65 in March 2007, when spot uranium was trading at more than triple current prices.

The acquisition will give ARMZ full control of Uranium One's assets in Kazakhstan, the United States and Australia. The Toronto-based company has almost tripled production since 2009.
[link to www.nucpros.com]
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