Sale of a majority stake in Altus Strategies to La Mancha (Naguib Sawiris) not on the agenda
The recent acquisition, for $8.4 million, of some 40% of the capital of the British company Altus Strategies by the Canadian mining company La Mancha, owned by the Egyptian tycoon Naguib Sawiris, had been under discussion for several months.
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▪ Sale of a majority stake in Altus Strategies to La Mancha (Naguib Sawiris) not on the agenda
▪ The recent acquisition, for $8.4 million, of some 40% of the capital of the British company Altus Strategies by the Canadian mining company La Mancha, owned by the Egyptian tycoon Naguib Sawiris, had been under discussion for several months.
▪ https://www.africabusinessplus.com/en/801290/une-cession-majoritaire-des-parts-daltus-strategies-a-la-mancha-n-sawiris-pas-dactualite/
Altus Strategies is a London and Toronto-listed mining exploration company focused on Africa where it has a portfolio of 18 research projects in gold, iron, bauxite, copper, silver, tin and zinc. It recorded revenues of £1.8bn ($2.37bn) in 2018 and had been seeking a major investment partner for several years to fast track its capacity for growth and diversification. “We offer them a gateway to the upstream phases of mining projects for different minerals, supported by a team of expert geologists; and an attractive business model, focused on royalty generation,” said Matthew Grainger, Executive Director of Altus Strategies, in comments to Jeune Afrique Business+ in London in the margins of the London Mines & Money conference at the end of November.
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