Mandalay Secures Swedish Regulatory Nod for Merger with Alkane
Deal News | Jun 18, 2025 | Globenewswire
Mandalay Resources Corporation, a Canadian-based natural resource company, has received regulatory approval from the Swedish authorities for their planned merger with Alkane Resources Limited. The merger, which was previously announced under the Business Corporations Act of British Columbia, allows for the indirect acquisition of all of Mandalay's outstanding shares by Alkane. With Swedish regulatory barriers cleared, the transaction now awaits approval from the Supreme Court of British Columbia, as well as from the shareholders of both Mandalay and Alkane, alongside other customary conditions. Shareholder meetings are anticipated in late July 2025. This merger aligns with Mandalay's strategic goal of expanding production and reducing costs, thereby enhancing cash flow and ensuring sustainable, responsible operations across its global sites in Sweden and Australia.
Sectors
- Natural Resources
- Mining
Geography
- Sweden – The Swedish regulatory approval is a key milestone for the merger between Mandalay and Alkane, highlighting Sweden's role in the transaction.
- Canada – Mandalay Resources is a Canada-based company, headquartered in Toronto, and subject to Canadian regulations.
- Australia – Alkane Resources is an Australian company, involved in the merger to acquire Mandalay.
Industry
- Natural Resources – Mandalay operates in the natural resources industry with a focus on gold and antimony mining activities in Australia and Sweden.
- Mining – The transaction involves companies primarily engaged in the extraction of gold and antimony, typical activities within the mining sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mandalay Resources Corporation | Target | Company | A Canadian-based natural resource company with gold-antimony mining operations in Australia and Sweden. |
| Alkane Resources Limited | Bidding Company | Company | An Australian-based company planning to acquire Mandalay's outstanding shares. |
| Swedish Inspectorate of Strategic Products | Government | Government | The Swedish authority that granted regulatory approval for the merger under the Swedish FDI Act. |
| Supreme Court of British Columbia | Government | Government | A legal body whose approval is pending for the completion of the merger. |