CITIC to buy 19.9% stake in Ivanhoe Mines for $723 million

A unit of Chinese state-run conglomerate CITIC Ltd will buy a near 20% stake in Canada's Ivanhoe Mines for about $723 million (US$555 million). CITIC Metal will own 19.9% of Ivanhoe Mines' outstanding common shares, becoming its largest single shareholder.

“A unit of Chinese state-run conglomerate CITIC Ltd will buy a near 20 per cent stake in Canada’s Ivanhoe Mines for about $723 million.”financialpost.com

• 2 sources
• financialpost.comChina's CITIC to buy 20% stake in Ivanhoe Mines for $723 million - Financial PostReutersJun 11, 2018
• miningconnection.comCITIC Metal to Acquire 20% Stake in Ivanhoe Mines for $560 Million | Mining Connection — The Link For All Your Mining ResourcesJun 18, 2018

Summarized from public sources; check the original articles before acting on it.