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India's Solar Industries to buy South Africa's Omnia for $1.36 billion
India’s Solar Industries said on Monday its unit will acquire South Africa’s Omnia Holdings in an all-cash deal worth about $1.36 billion, as the explosives and ammunition maker looks to expand its global mining business. Solar SA Investments, an indirect wholly-owned subsidiary of Solar Industries, will acquire all outstanding shares of Johannesburg-listed Omnia, subject to regulatory and Omnia shareholder approvals, the company said in a statement. The deal comes as African countries step up efforts to boost output and draw investment into critical minerals. opper-rich Zambia is targeting a ...
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