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CHAMPION IRON TO LAUNCH CASH TENDER OFFER TO ACQUIRE RANA GRUBER, RECEIVES FINANCIAL SUPPORT FROM LA CAISSE AND A TERM LOAN COMMITMENT FROM SCOTIABANK
CHAMPION IRON TO LAUNCH CASH TENDER OFFER TO ACQUIRE RANA GRUBER, RECEIVES FINANCIAL SUPPORT FROM LA CAISSE AND A TERM LOAN COMMITMENT FROM SCOTIABANK
About this update from Champion Iron Ltd.
[{"type":"text","content":"MONTRÉAL, Dec. 21, 2025 /CNW/ – SYDNEY, December 22, 2025 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") today announced that it has entered into a transaction agreement (the "Transaction Agreement") with Rana Gruber ASA ("Rana Gruber"), a leading Norwegian producer of high-grade iron ore, on terms of a conditional recommended voluntary cash tender offer to acquire all of the issued and outstanding shares of Rana Gruber at a price of NOK 79 (US$7.79) per share (the "Offer"), representing a total equity value of approximately NOK 2,930 million (US$289 million) (the "Transaction"). The Transaction is unanimously supported by Rana Gruber's executive management and board of directors, and shareholders owning approximately 51% of Rana Gruber's issued and outstanding shares have entered into separate pre-acceptance undertakings, whereby they have agreed, subject to the terms and conditions thereof, to tender their shares into the Offer. The Company expects to fund the Transaction through a combination of equity, debt, and cash on hand, including a US$100 million equity private placement (the "Private Placement") with Caisse de dépôt et placement du Québec ("La Caisse"), a global investment group and long-standing financial partner of the Company, and a fully committed term loan in the amount of US$150 million (the "Term Loan") solely underwritten by The Bank of Nova Scotia ("Scotiabank").","length":1597,"tagName":"p"},{"type":"text","content":"For further details regarding this announcement, readers are referred to the joint voluntary cash tender offer announcement in respect of the Transaction (the "Announcement") previously released in Norway on the date hereof in accordance with applicable Norwegian securities laws and which can be found under Rana Gruber's profile on Euronext Oslo Børs' electronic information system at https://newsweb.oslobors.no. This press release should be read in conjunction with, and is subject to, the full text of the Announcement.","length":542,"tagName":"p"},{"type":"text","content":"Conference Calls and Webcasts Details","length":37,"tagName":"p"},{"type":"text","content":"Champion will host two con...