Acquisitions5 May 2026, 06:41 pm
Kundan Minerals' Subsidiary Acquires 99% Stake in Mining Firm
AI Summary
Kundan Minerals and Metals Limited announced that its foreign subsidiary, Kundan Ventures FZCO, has acquired a 99% stake in West Africa Exploration & Mining, Mauritania. The acquisition, completed for 99000 MRU in cash, aims to expand Kundan Minerals' international presence in the mining sector. West Africa Exploration & Mining, incorporated on August 19, 2025, is involved in mineral mining in Mauritania and reported a turnover of NIL for 2025. The acquisition does not constitute a related party transaction and complies with SEBI regulations.
Key Highlights
- Kundan Ventures FZCO acquires 99% stake in West Africa Exploration & Mining.
- Acquisition cost: 99000 MRU paid in cash.
- Target company is in mineral mining with NIL turnover in 2025.
- Acquisition expands Kundan Minerals' international presence.
- Transaction is not a related party transaction.