Evolution Mining defeated Metals Acquisition Corp to buy an 80 per cent stake in Northparkes copper mine for up to $US475 million ($718 million), after a sale process run by Citi and Standard Chartered.
It is understood Metals Acquisition Corp was among the underbidders for the mine, while ASX-listed Sandfire Resources and Aeris Resources had an early look but did not advance through the auction.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
