Kreab advises Sierra Rutile on £215m takeover
Christina Clark
Swedish communications consultancy Kreab has advised Sierra Rutile Limited on its recommended takeover by Iluka Resources.
Kreab has advised on the takeover offer of 36p per Sierra Rutile share received from Iluka Resources Limited, which was announced on 1 August 2016. The offer valued Sierra Rutile at £215m.
Sierra Rutile is an AIM-listed multi-mine mineral sands company, with an established operating history in Sierra Leone spanning approximately 50 years.
Iluka is listed on the ASX (Australian Securities Exchange) with a market capitalisation of A$2.893bn (£1.831bn), as of 7 December 2016.
The takeover was implemented by way of statutory merger between Sierra Rutile and a subsidiary of Iluka under the BVI Business Companies Act.
Sierra Rutile has been a client of Kreab since early 2012 and the brief is led by Kreab director Christina Clark.
