Acquisitions27 Apr 2026, 07:26 pm
Kundan Minerals Subsidiary Acquires 80% Stake in Colombian Miner for $1.1M
AI Summary
Kundan Minerals and Metals Ltd. announced that its foreign subsidiary, Kundan Ventures FZCO, has entered into a Share Purchase Agreement to acquire an 80% stake in Compania Minera EL Desquite De Colombia S.A.S. The total consideration for this acquisition is USD 1,100,000, payable to the sellers, Carlos Hector Carabali Zapata and Miguel Antonio Carabli. Following the completion of this transaction, Compania Minera EL Desquite De Colombia S.A.S. will become a step-down subsidiary of Kundan Minerals and Metals Ltd. The agreement date was April 7, 2026, and it was intimated to the company on April 27, 2026.
Key Highlights
- Kundan Ventures FZCO to acquire 80% stake in Colombian mining company.
- Acquisition consideration is USD 1,100,000.
- Target company will become a step-down subsidiary.
- Transaction expands company's international presence.