Rio Tinto sells uranium project

Rio Tinto, a UK-based mining group, has announced the sale of its Australian Kintyre uranium project to Cameco Corporation and Mitsubishi Development for US$495 million (£260 million).

Other Done Deals

  • Iofina, a natural gas and iodine exploration company has announced the acquisition of 30,000 acres in Montana, USA, which scientists have identified as an area with a potentially large amount of reserves
  • John Maneely, part of the Carlyle Group has been bought by Novolipetsk Steel for $3.53 billion (£1.8 billion)
  • State-run Libya Oil Holding has bought subsidiaries of Shell in Sudan, Djibouti and Ethiopia for an undisclosed sum
  • An affiliate of DIRECTV, a digital television and video programming services company has acquired 180 Connect, an installation, integration service company for $105 million (£55.3 million)
  • The maintenance and modification unit of Day and Zimmerman, a US-based outsourcing solutions company, has bought a fabrication and machining plant from Industrial Maintenance and Machine. The fee was undisclosed
  • An undisclosed financial round for 4JET Sales and Service has been completed by eCAPITAL
  • CDC Group has invested €7 million (£5.5 million) in Advans, a venture capital company which invests in Greenfield microfinance institutions in Asia and Africa
  • Irish-based MobileAware has received an undisclosed sum from return backers Nauta Capital and Cross Atlantic Capital Partners
  • European leveraged finance firm Cinven has acquired a 50 per cent stake in alternative investment manager Indicus for an undisclosed sum

Deals in the pipeline

  • Deka, a German fund manager, is under offer to buy Hammerson and Pearl Assurance’s Moorhouse office scheme in the City of London. The 305,000 sq ft building is being sold at a yield of about 6.4 per cent which is around £230 million
  • Elan has received preliminary offers of up to €1 billion (£785 million) for its drug delivery business. The company is looking to offload the business as soon as possible
  • A consortium lead by HG Metal, a Singapore steel products maker will acquire BRC Asia, a local rival from UK-based Acertec for $34 million (£18 million)

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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