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BRIEF-Iluka Resources announces acquisition of Sierra Rutile Limited

Published 01/08/2016, 09:56 am
Updated 01/08/2016, 10:00 am
© Reuters.  BRIEF-Iluka Resources announces acquisition of Sierra Rutile Limited
ILU
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August 1 (Reuters) - Iluka Resources Ltd ILU.AX :

* Iluka acquisition of Sierra Rutile Limited ILU.AX

* Iluka assumes SRL's debt of approximately US$60 million

* Offer is 36 pence cash for each SRL share which values the entire issued and

to be issued shares of 1 srl at approximately £215 million

* The board of SRL has provided its unanimous recommendation for the

acquisition

* Transaction is expected to be EPS accretive in the first full year (2017)

* Iluka to refinance SRL debt using existing facilities

* Source text for Eikon

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