Eastern Platinum Gets Approval For Transaction With Hebei Zhongbo

Eastern Platinum Limited (TSX:ERL) has received shareholder approval for the sale of its South African platinum assets to Hebei Zhongbo Platinum. Hebei Zhongbo has also received all necessary approvals from the People’s Republic of China.

As quoted in the press release:

The net proceeds of the Acquisition transaction to the Company, net of the Minority Interests buy-out, finder’s fee and estimated transaction costs are expected to be approximately US$175 million.

Click here to read the Eastern Platinum Limited (TSX:ERL) press release