MMG's Acquisition of Anglo American's Nickel Business Faces Extended EU Review

Stock News11-03 12:40

MMG (01208) has announced that the completion of its acquisition of Anglo American's nickel business is contingent upon the satisfaction or waiver of several preconditions, including securing merger control approvals across multiple jurisdictions, obtaining acceptance from the National Development and Reform Commission (NDRC) for the filing related to the acquisition, and receiving acceptance from the Ministry of Commerce (MOFCOM) for the same filing.

With all other conditions now fulfilled, the European Commission has extended its review to a second-phase investigation. The Commission is now required to complete its review by December 21, 2026. Under the share purchase agreement, the final deadline for completion conditions is October 31, 2026. After this final deadline, either party may choose to terminate the agreement. The parties have now agreed to extend the final deadline to December 31, 2026.

MMG will continue to collaborate with Anglo American and the European Commission to assist the Commission with its review process.

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