Atlas ups stake in Carmen Copper to 100%

Atlas will make Carmen Copper a 100% subsidiary and plans to induct a new strategic investor after buying out its private equity partner, Casop.

Atlas ups stake in Carmen Copper to 100%
Atlas's copper mine in Lutopan, Philippines

Atlas Consolidated Mining and Development will shell out $368 million to make Carmen Copper a wholly owned subsidiary, buying out the 45.54% owned by Casop, its private equity partner.

Atlas, which is based in Manila, also told the Philippine Stock Exchange on Friday that it will raise $390 million through a combination of debt and equity to finance the acquisition. BDO Capital and Investment and Evercore Partners are advising Atlas on the acquisition and the...

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