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Zijin completes compulsory acquisition of remaining Nevsun shares

Zijin Mining Group Co. Ltd. said March 12 that it completed the compulsory acquisition of the remaining outstanding Nevsun Resources Ltd. shares it did not own, part of Zijin's C$6.00-per-share all-cash takeover bid.

The Chinese miner acquired a total of 23,184,095 Nevsun shares, representing 7.5% of the latter, at the offer price of C$6.00 per share, to close the C$1.86 billion acquisition.

As of March 8, Nevsun's shares have been delisted from the TSX and the NYSE American bourses. A request to cease to be a reporting issuer will be made to applicable Canadian securities regulatory authorities.