Rio Tinto in $2.7B bid for remaining 49% stake in Turquoise Hill (NYSE:RIO)

Rio Tinto in $2.7B bid for remaining 49% stake in Turquoise Hill (NYSE:RIO)

“The proposed transaction would enable Rio Tinto to work directly with the government of Mongolia to move the Oyu Tolgoi project forward with a simpler and more efficient ownership and governance structure,” Chief Executive Jakob Stausholm said.

Turquoise Hill owns 66% of Oyu Tolgoi, with the remaining 34% held by a Mongolian state-owned entity.

Originally Posted on: https://seekingalpha.com/news/3812961-rio-tinto-in-27b-bid-for-remaining-49-stake-in-turquoise-hill?source=feed_tag_commodities
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