The U.S. Nuclear Regulatory Commission (NRC) approved a deal on selling the control stock of Uranium One Inc. to the Russian Atomredmetzoloto (ARMZ). The Canadian company reported November 24 now Uranium One Inc. has all necessary regulatory approvals to close the deal. Uranium One Inc. starts the first stage of the closure process by issuing 178,127,165 new common shares to the benefit of ARMZ in exchange of US$ 610 mln. in cash. A procedure and dates of paying a special dividend of 1.06 US dollars per share will be determined after the first stage is completed.

The final stage of the closure which includes hand-over by ARMZ its interest in Akbastau and Zarechnoye projects in Kazakhstan in exchange of 178,127,165 new common shares of Uranium One Inc. will be completed before end of December. June 8 ARMZ signed an agreement with Uranium One Inc., under which the Russian company raises its share in the Uranium One Inc.'s equity capital through buy-off of an additional issue of shares (356 mln. of common shares). This block was paid by ARMZ with 50% of shares of JV Akbastau, 49.67% of shares of JV Zarechnoye, and US$610m in cash. After the deal closure, ARMZ will have not less than 51% of the Uranium One Inc.'s equity capital.
Source: Nuclear.Ru