Alexander Machkevitch, one of the founders of Eurasian Natural
Resources Corp. Plc (ENRC), is in the preliminary stages of
forming a consortium to look at making an offer for the
company, ENRCs board has acknowledged.
However, ENRC has not received
any formal proposal that could lead to an offer or possible
offer for the company, the board added.
In accordance with the United
Kingdoms City Code on Takeovers and Mergers, ENRC
announced that as of the close of business April 19 it had more
than 1.28 billion ordinary shares, valued at 20 cents each,
with one voting right per share.
Machkevitch announced his plan
to pursue the company earlier April 19 in response to "press
The consortium is being advised
by Société Générale.
"Machkevitch is reviewing a
number of potential opportunities, which include the
possibility of forming a consortium together with Mr. Alijan
Ibragimov, Mr. Patokh Chodiev and the Kazakh government (the
"Consortium") to make an offer for ENRC," Machkevitch said in a
statement Friday. "These deliberations are at a very
preliminary stage and, accordingly, there can be no certainty
that an offer will ultimately be made for ENRC, nor as to the
terms on which any offer might be made."
A version of this article was
first published by AMM sister publication Steel First.