Newmont Announces PNG Competition Commission Clearance for Acquisition of Newcrest Mining

[CanisLycaon]

"Newmont Corporation today announced that Papua New Guinea’s (PNG) Independent Consumer & Competition Commission (ICCC) granted clearance for the Company to proceed with its proposed acquisition of Newcrest Mining Limited. Newmont, in consultation with Newcrest, has also determined that no premerger notification under the Hart Scott-Rodino Act will be required in the United States for the transaction to move forward.

Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year. Last month, the Canadian Competition Bureau issued a “no action” letter clearing the proposed acquisition..."

"...Other regulatory approvals to be secured for Newmont’s proposed acquisition of Newcrest include the Australian Competition and Consumer Commission (ACCC), the Australia Foreign Investment Review Board (FIRB), the Japan Fair Trade Commission (JFTC), the Philippine Competition Commission (PCC), and the Korea Fair Trade Commission (KFTC). Newmont and Newcrest also continue engaging with the PNG Government and regulators about other approvals and clearances for the proposed transaction..."

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