London - Eurasian Natural Resources Corporation PLC ('ENRC' or the 'Group') has entered into a conditional agreement ('the Transaction') to acquire 100% of Enya Holdings BV ('Enya') which holds a 90% interest in Chambishi Metals PLC ('Chambishi'), a Zambian copper and cobalt producer, together with a 100% interest in Comit Resources FZE ('Comit'), a Dubai-based marketing and sales company that historically has handled Chambishi's copper blister and cobalt metal sales. The aggregate cash consideration for the Transaction amounts to US$300 million, which will be wholly funded from ENRC's existing cash resources. The Transaction remains subject to the satisfaction or waiver of certain conditions precedent and is expected to be completed no later than the end of June 2010.
