MMG (01208) Acquisition of Anglo American's Nickel Business: EU Review Extended to Phase Two
MMG (01208) announced that the obligations of the company and Anglo American to complete the acquisition are subject to the satisfaction or waiver of certain conditions precedent (the Conditions), including: obtaining merger control approvals in multiple jurisdictions; acceptance by the National Development and Reform Commission (NDRC) of the People's Republic of China of the filing relating to the acquisition; and acceptance by the Ministry of Commerce (MOFCOM) of the People's Republic of China of the filing relating to the acquisition.
MMG (01208) announced that the obligations of the company and Anglo American to complete the acquisition are subject to the satisfaction or waiver of certain conditions precedent (the Conditions), including: obtaining merger control approvals in multiple jurisdictions; acceptance by the National Development and Reform Commission (NDRC) of the PRC of the filing relating to the acquisition; and acceptance by the Ministry of Commerce (MOFCOM) of the PRC of the filing relating to the acquisition.
Given that all other conditions have been satisfied, the European Commission's review has been extended to a Phase Two review. The European Commission is now required to complete its review by December 21, 2026.
Pursuant to the share purchase agreement, the final deadline for the completion conditions is October 31, 2026 (the Final Deadline). After the Final Deadline, either party may elect to terminate the agreement. The parties have now agreed to extend the Final Deadline to December 31, 2026.
MMG will continue to work with Anglo American and the European Commission to assist the European Commission with its review.
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