BVI-incorporated company Aura Minerals Inc. announced that its wholly-owned subsidiary, Aranzazu Holding S.A. de C.V., has completed a competitive bidding process for a new offtake agreement with Trafigura México, S.A. de C.V., pursuant to which Trafigura has agreed to purchase 100% of the copper and gold concentrate produced at Aranzazu during the term of the New Agreement.
The New Agreement is effective as of the beginning of 2022 and until the end of 2024. The current offtake agreement in place with IXM Metals will remain in force until the end of 2021.
As a result of a strong competitive process and improved market conditions for copper, Aura expects Aranzazu to achieve material savings under the New Agreement, improving gross margins by 4 percentage points compared to the terms of the Existing Agreement.
Tuesday, November 24, 2020
Monday, April 13, 2020
Luxoft completed acquisition of CMORE Automotive
Luxoft, a DXC Technology Company, announced the completion of its acquisition of CMORE Automotive on April 9, 2020. Definitive agreement to acquire the independent services provider, dedicated to the development and validation of Al-driven mobility systems, was announced on March 5, 2020, and final approval was received by the company on March 24, 2020.
The acquisition adds to Luxoft’s capabilities in data-driven development, testing and validation of Autonomous Drive/Advanced Driver Assistance Systems and strengthens the company’s ability to design and deploy transformative AD/ADAS programs for clients at scale.
Dmitry Loschinin, executive vice president, DXC Technology, and president and chief executive officer, Luxoft, commented on the completion of the acquisition: “With CMORE Automotive, Luxoft will extend its spectrum of AD/ADAS initiatives, from enabling customers to amplify their fusion, perception and driving function development, testing and validation capacities to delivering transformative AD/ADAS solutions at scale. I want to welcome the CMORE Automotive team to the DXC family.”
Richard Woller, chief executive officer, CMORE Automotive, said: “We are excited to be a part of the DXC family and its Autonomous Drive team and looking forward to accelerate customers’ in-car series projects with end-to-end AI-driven development, testing and validation of AD/ADAS solutions at scale.”
The acquisition adds to Luxoft’s capabilities in data-driven development, testing and validation of Autonomous Drive/Advanced Driver Assistance Systems and strengthens the company’s ability to design and deploy transformative AD/ADAS programs for clients at scale.
Dmitry Loschinin, executive vice president, DXC Technology, and president and chief executive officer, Luxoft, commented on the completion of the acquisition: “With CMORE Automotive, Luxoft will extend its spectrum of AD/ADAS initiatives, from enabling customers to amplify their fusion, perception and driving function development, testing and validation capacities to delivering transformative AD/ADAS solutions at scale. I want to welcome the CMORE Automotive team to the DXC family.”
Richard Woller, chief executive officer, CMORE Automotive, said: “We are excited to be a part of the DXC family and its Autonomous Drive team and looking forward to accelerate customers’ in-car series projects with end-to-end AI-driven development, testing and validation of AD/ADAS solutions at scale.”
Tuesday, March 3, 2020
BVI company’s subsidiary entered into Merger Agreement with China-based Jumei
Jumei International Holding Limited, China-based fashion and lifestyle solutions provider, has entered into a definitive Agreement and Plan of Merger with business company Super ROI Global Holding Limited, incorporated under the laws of the British Virgin Islands, and BVI company’s wholly-owned subsidiary Jumei Investment Holding Limited, incorporated in the Cayman Islands.
Under the terms of the Merger Agreement, Jumei Investment Holding and Super ROI Global Holding Limited will acquire all of the outstanding class A ordinary shares of the company, par value US$0.00025 per share and American depositary share each representing ten Class A Ordinary Shares.
The subsidiary of the BVI company will promptly start a tender offer to acquire all of the outstanding Class A Ordinary Shares of Jumei International Holding Limited at a price of US$2.0 per share or US$20.0 per ADS in cash, without interest and less US$0.05 per ADS cancellation fees, US$0.02 per ADS depositary service fees and other related fees and taxes. After completion of the tender offer, which will be subject to several conditions, the BVI company will purchase all remaining shares through a “short-form” merger of Jumei Investment Holding Limited and Jumei International Holding Limited.
The Merger Agreement, the offer and the merger were unanimously recommended by the board of directors of the Chinese company. The merger is expected to close in the second quarter of 2020; upon its completion, Jumei International Holding Limited, will become a privately-owned company wholly owned directly by the BVI corporation.
Under the terms of the Merger Agreement, Jumei Investment Holding and Super ROI Global Holding Limited will acquire all of the outstanding class A ordinary shares of the company, par value US$0.00025 per share and American depositary share each representing ten Class A Ordinary Shares.
The subsidiary of the BVI company will promptly start a tender offer to acquire all of the outstanding Class A Ordinary Shares of Jumei International Holding Limited at a price of US$2.0 per share or US$20.0 per ADS in cash, without interest and less US$0.05 per ADS cancellation fees, US$0.02 per ADS depositary service fees and other related fees and taxes. After completion of the tender offer, which will be subject to several conditions, the BVI company will purchase all remaining shares through a “short-form” merger of Jumei Investment Holding Limited and Jumei International Holding Limited.
The Merger Agreement, the offer and the merger were unanimously recommended by the board of directors of the Chinese company. The merger is expected to close in the second quarter of 2020; upon its completion, Jumei International Holding Limited, will become a privately-owned company wholly owned directly by the BVI corporation.
Saturday, February 15, 2020
Aura Minerals purchases Gold Road Mine from Para Resources Ltd
Aura Minerals Inc., the mining company incorporated in the British Virgin Islands, and Para Resources Inc. entered into a binding term sheet together with PPG Arizona Holdings LP, an affiliate of Pandion Mine Finance, LP. Pursuant the terms of the agreement, the BVI company will purchase from Para all of the issued and outstanding shares of its wholly-owned subsidiary Z79 Gold (USA) Corp., for nominal cash consideration and the assumption of liabilities from Para to PPG of approximately US$35mln, under the restructured pre-paid forward gold purchase agreement dated August 3, 2018. The closing of the Transactions is expected to occur on or about March 13, 2020.
Z79 is the owner of 94% interest in Gold Road Mining Corp., which owns the Gold Road Mine in Arizona, also the company owns 94% interest in TR-UE Vein Exploration, Inc., which owns different options to acquire parcels of land adjacent to the Gold Road Project.
President and CEO of the BVI company Mr. Rodrigo Barbosa said today: “We believe that Gold Road has a good strategic fit with Aura’s portfolio. With our technical and managerial expertise we should be able to help Gold Road unlock value and grow.”
Z79 is the owner of 94% interest in Gold Road Mining Corp., which owns the Gold Road Mine in Arizona, also the company owns 94% interest in TR-UE Vein Exploration, Inc., which owns different options to acquire parcels of land adjacent to the Gold Road Project.
President and CEO of the BVI company Mr. Rodrigo Barbosa said today: “We believe that Gold Road has a good strategic fit with Aura’s portfolio. With our technical and managerial expertise we should be able to help Gold Road unlock value and grow.”
Tuesday, January 14, 2020
Luxoft announces Joint Venture formation
BVI-registered Luxoft (DXC Technology Company) and LG Electronics announced that they will form an automotive joint venture to advance the deployment of production-ready digital cockpit, in-vehicle infotainment, rear-seat entertainment (RSE) and ride-hailing systems based on the webOS Auto platform. Luxoft will lead the deployment of webOS Auto platform in production-ready systems in automotive by contributing its global delivery network and its engineering at-scale delivery organization. It is expected that the joint venture will start operations in the first quarter of 2020. The transaction is subject to regulatory approval and other customary closing conditions.
webOS Auto is an open platform for collaboration and for shared and intelligent mobility, providing unique features and functionality, and incorporating all essential components to offer improved comfort and convenience to passengers and drivers.
Dmitry Loschinin, executive vice president, DXC Technology, and president and CEO, Luxoft, said in his comments: ”This new venture reinforces Luxoft’s capabilities in the design, development and deployment of large-scale digital cockpit and connected mobility solutions based on open platforms… The combined strengths of LG and Luxoft will create invaluable synergy to deploy webOS Auto, the platform for digital, consumer-grade experiences to automakers and their key partners.”
webOS Auto is an open platform for collaboration and for shared and intelligent mobility, providing unique features and functionality, and incorporating all essential components to offer improved comfort and convenience to passengers and drivers.
Dmitry Loschinin, executive vice president, DXC Technology, and president and CEO, Luxoft, said in his comments: ”This new venture reinforces Luxoft’s capabilities in the design, development and deployment of large-scale digital cockpit and connected mobility solutions based on open platforms… The combined strengths of LG and Luxoft will create invaluable synergy to deploy webOS Auto, the platform for digital, consumer-grade experiences to automakers and their key partners.”
Subscribe to:
Posts (Atom)