Newmont receives all regulatory approvals for Newcrest acquisition - Bloomberg
Summary
Newcrests Sherry Duhe: A power player in energy and then metals Newmont Corp. says it has cleared all required regulatory approvals to move forward with its proposed US$19.2-billion acquisition of Newcrest Mining Limited. In a Wednesday press release, Newmont announced that the proposed sale had been cleared by the Securities Commission of Papua New Guinea and by the Philippine Competition Commission. Newmont president and CEO Tom Palmer thanked the government of Papua New Guinea, saying the company looks forward to “building strong and mutually beneficial partnerships” through developing gold and copper mining projects in the country. Newmont and Newcrest now expect the transaction to close in the fourth quarter of this year. The US$19.2-billion deal would consolidate the company’s position as the world’s largest bullion producer.