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Vallar to raise £600m for acquisition
Wed, 08 Feb, 2012
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Vallar to raise £600m for acquisition
Fri, 25 Jun 2010, 07:00:00
<b>Vallar</b> said it plans to raise £600m when it floats on the main market of the London Stock Exchange. Following admission, the group intends to buy a single major company that has significant operations in the global metals, mining and resources sector. The group said it expects to focus on regions and commodities where it can leverage the extensive network and strong prior operating and investment experience of the Vallar Team, led by founders Nathaniel Rothschild and James Campbell, within the sector. As such, the focus regions include the Americas, Russia, Eastern Europe and Australia, and potential commodities include base metals, coking coal, iron ore and thermal coal (and may also include gold, silver, uranium and associated co-products or by products). A prospective target has not yet been identified and no shareholder approval will be sought to make the acquisition. The founders and other members of the Vallar Team, through various investment vehicles, have committed £100m of capital to the company and its subsidiary. Nat Rothschild said: "The proposition we have put together combines the ability to source the exciting investment opportunities that exist within the metals, mining and resources sector with a flexible structure and decision making process that will allow us to react more quickly than our competitors." "We believe the fundamentals of the commodities sector make a compelling case for investment." James Campbell added: "After a number of years of consolidation, the mining industry is entering a phase of streamlining and we think many attractive targets will become available. The team we have assembled means we have the operational expertise to add value for the benefit of our shareholders."
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