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On June 13, 2025, Dundee Precious Metals Inc. announced a definitive agreement to acquire UK-based Adriatic Metals plc in a cash-and-share transaction valued at approximately US$1.3 billion. Adriatic shareholders will receive 93 pence in cash and 0.1590 Dundee shares per Adriatic share—representing a 50.5 percent premium to Adriatic’s last closing price prior to the transaction announcement.
This acquisition gives Dundee full ownership of the Vareš silver project in Bosnia and Herzegovina, significantly boosting Dundee’s growth profile and cash flow potential. Upon closing, Dundee shareholders will own approximately 75.3 percent of the combined company, with Adriatic shareholders owning the remaining 24.7 percent.
The transaction was completed on September 3, 2025.
Parties
Company
Dundee Precious Metals Inc.
Company
Adriatic Metals plc
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 1,766,245,000Deal Status
ClosedClosing Date
03 September 2025