Canada's Uranium One has agreed a $3.1bn (£1.6bn) reverse takeover of UrAsia Energy, which has a London listing, creating the world's second largest producer of uranium in a deal triggered by the rising demand for nuclear fuel.More from Bloomberg.
The new company, which will retain the name Uranium One, will have a market capitalisation of $5bn, making it second only to fellow Canadian group Cameco, which is valued at $14m. It will be the only company operating in every one of the world's five largest resource areas - Kazakhstan, South Africa, Australia, the US and Canada. Over half of the world's production of uranium from mines is in Canada and Australia.
Uranium One Agrees to Takeover of UrAsia Energy
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