Champion Iron completes acquisition of Norway's Rana Gruber for $300 mln

Australian mining company Champion Iron has completed its voluntary cash tender offer to acquire 92.48% of the issued shares of Rana Gruber, a leading Norwegian producer of high-purity iron ore, at a price of NOK 79 ($8.4) per share, according to the Australian miner's latest announcement released last Friday.

The total purchase price for the transaction was approximately $300 million, excluding related fees and expenses. Following the completion of the deal, Champion Iron plans to compulsorily acquire the remaining shares and delist the company from Euronext Oslo Børs, the announcement added. Rana Gruber, based in Mo i Rana, Nordland,