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The TCoC Phase II teams, led by NRHI, will also develop strategies and actionable steps to educate and engage employers interested in reducing the costs of providing healthcare coverage for their employees.
UK-based Toledo Mining Corp Plc (LON:TMC) said it had signed a memorandum of understanding (MoU) to sell a 31% stake in Philippines-based Nickeline Resources Holdings Inc (NRHI) to a unit of local diversified group DMCI Holdings Inc (PSE:DMC).
22 October 2012 - UK-based Toledo Mining Corp Plc (LON:TMC) said on Monday it had signed a memorandum of understanding (MoU) to sell a 31% stake in Philippines-based Nickeline Resources Holdings Inc (NRHI) to a unit of local diversified group DMCI Holdings Inc (PSE:DMC).
Under the terms of the MoU, DMCI Mining Corp will pay nearly USD6.6m (EUR5.1m) in cash for the interest in NRHI. As a result, the DMCI unit will also get an indirect stake of 18.6% in Berong Nickel Corp (BNC) in the Philippines, as NRHI currently has a 60% holding in that firm.
The sale of Toledoa[euro](tm)s 31% in NRHI is subject to certain conditions, including the deal with ENK being carried out, signing of definitive agreements and securing board and regulatory nods.
The execution of both transactions will provide Toledo with a greater representation on the BNC board via an increased direct holding, it added.Country: PhilippinesSector: Metals/MiningTarget: Nickeline Resources Holdings Inc (NRHI)Buyer: DMCI Holdings Inc, DMCI Mining CorporationVendor: Toledo Mining Corporation plcDeal size in USD: 6.6mType: DivestmentStatus: ExclusivityComment: MoU
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- NRG Energy, Inc.
- NRI Medical College