Waterton makes $59 mln bid to own Arizona's Chaparral Gold
Canadian private equity firm Waterton Global Resource Management is making an offer to acquire 100% of the common shares of Chaparral Gold Corp (TSX: CHL) not already held by the firm at a price of $0.50 per share. The deal has been estimated to value $58.8 million. Waterton currently owns 2.9% of the shares in Chaparral, a Scottsdale, Arizona-based precious metals producer focused on development projects in Nevada. The company has issued a statement about Waterton's unsolicited proposal, saying that net of the Chaparral's working capital it implies a negative value for mineral properties. As previously reported by peHUB, Waterton is currently raising its second mining-focused fund, targeted at US$750 million.
19 February 2014•6 mins read
