Toho Zinc Confirms CBH Resources Acquisition by Perilya

Toho Zinc announced on Wednesday the firm confirms acquisition of its affiliate zinc miner in Australia, CBH Resources, by Perilya, another Australian zinc miner. Toho Zinc is the top shareholder in CBH Resources with 25.5% shares now. Toho Zinc admits Perilya since zinc output is expected to exceed 220,000 tonnes of metal per year by the merger company, the largest level in the world, while CBH Resources’ zinc output is about 50,000 tonnes of metal per year.Perilya and CBH Resources agreed in a merger ratio at CBH Resources’ 3 shares for each Perilya’s share. At the same time, Perilya pays 2 Australian dollars for CGH Resources’ 20 shares. Merger date is to be arranged. Both miners operate at Broken Hill zinc mine, that is, co-operation synergy is expected.Toho Zinc will maintain strategic partnership with CBH Resources. Toho Zinc will hold about 15% shares in the merger company and delegate an officer to strengthen the partnership.