Kinetic Mines & Energy Ltd. (HK:1277) has released an update.
Kinetic Development Group Limited has entered into a Share Subscription Agreement to acquire a 51% stake in MC Mining, with a total investment of US$90 million, structured in two separate payments. This strategic move will result in MC Mining becoming a non-wholly owned subsidiary of the Group, with its financial results to be consolidated into the Group’s reports. Investors are urged to exercise caution as the completion of the deal is subject to the fulfillment of certain conditions.
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