Turquoise Hill Resources Ltd. (TSX: TRQ) declared that the transactions planned under the statutory plan of arrangement following the Business Corporations Act had been completed. This plan of arrangement was between the company and Rio Tinto International Holdings Limited. As a result of this arrangement, Rio Tinto obtained the roughly 49% of the existing and outstanding common shares of Turquoise Hill that it and its affiliates did not already possess for a price of C$43 per share in cash.
As a consequence of the deal, Turquoise Hill plans to request the removal of its ordinary shares from the Toronto Stock Exchange and the New York Stock Exchange. It will no longer be obligated to report under Canadian securities regulations.
Additional details about the plan and the amount to be paid for the Minority Shares are outlined in the management information circular from September 27, 2022, with modifications and additions made on November 24, 2022, which is available on the company’s website.