Business News • MarketWire • Royal Oak Ventures Inc. to Be Acquired by Brookfield Holdings Canada Inc. |
Royal Oak Ventures Inc. to Be Acquired by Brookfield Holdings Canada Inc. |
|
|
Royal Oak Ventures Inc. to Be Acquired by Brookfield Holdings Canada Inc.
TORONTO, ONTARIO--(Marketwired - Oct. 30, 2013) - Royal Oak Ventures Inc. ("Royal Oak") (CNSX:ROV)(CNSX:ROV.B) and Brookfield Holdings Canada Inc. ("Holdings"), a subsidiary of Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA), today announced that Royal Oak has entered into an agreement with Holdings to effect a going private transaction whereby Holdings will acquire all of the issued and outstanding common shares ("Common Shares") and all of the issued and outstanding non-voting shares ("Non-Voting Shares", together with the Common Shares, the "Shares") of Royal Oak not already owned by Holdings or its affiliates at a price of $0.15 per Share in cash (the "Offer"), representing a total cash consideration of approximately $8 million. Holdings and its affiliates currently own 1,530,288 Common Shares and 107,341,027 Non-Voting Shares of Royal Oak, representing 48% of the Common Shares and 67% of the Non-Voting Shares, for combined economic interest of 67% in Royal Oak.
View More : http://www.marketwired.com/mw/release.do?id=1846758&sourceType=3
|
|
|