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May 03, 2007
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Norilsk Nickel Willing to Buy Canadian LionOre for $4.7bln
GMK Norilsk Nickel will make an offer to buy out new common stocks of Canadian LionOre Mining International Ltd. (LionOre), paying $19.33 per each of them, the company officially announced. The overall amount will be around $4.7 billion.
To begin with, Norilsk Nickel will officially apply for the list of LionOre’s holders, so that it could make an offer to them. For Norilsk Nickel, the purpose to attain is generating over 66.66 percent of LionOre common stocks. The actual execution of the offer will depend on the number of stocks provided by LionOre holders.

Norilsk Nickel will fund the deal both for its own account and by raising the loans. As of today, BNP Paribas and Societe Generale have confirmed their readiness to arrange the facility for the company.

UBS Investment Bank is the company’s financial consultant for the deal, Hogan & Hartson LLP consults Norilsk Nickel in legal issues and Coodmans LLP is its consultant in Canada.
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