MAC Copper says FIRB approval received for Harmony Gold acquisition

MAC Copper (MTAL) announced that its proposed acquirer, Harmony Gold (HMY), has received written notice from the Australian Federal Treasurer stating that the “Commonwealth Government does not object to the Scheme.” Accordingly, MAC said “the regulatory condition precedent in clause 3.1(c) of the Implementation Deed has now been satisfied and that all regulatory conditions to the Scheme have now been satisfied.” CEO Mick McMullen commented, “The receipt of regulatory approval from FIRB following the previously announced approval from SARB is another significant step towards implementation of the Transaction as all requisite regulatory approvals have now been obtained.” The scheme remains subject to approval by MAC shareholders at meetings scheduled for August 29, as well as court sanction and other customary conditions.