KKR eyes buyout of Rio Tinto and BHP mines

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Toys R Us owner in running to buy both diamond sites worth billions.

Asset management firm KKR, owner of worldwide retailers Toys R Us and Pets at Home, has materialised as one of the frontrunners to buy up Rio Tinto’s diamond business and BHP’s Ekati mine in Canada.

KKR is now set to challenge Harry Winston and Stornoway – two other mining companies interested in buying the sites – and hopes to combine a purchase of both diamonds production mines.

The announcement that BHP Billiton would be selling its Canadian diamond mine came last month. It is forecasted to sell for around £473 million.

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Rio Tinto’s mining operations, which include 100% ownership of the Argyle pink diamond mine in Australia as well as majority stakes in Canadian and Zimbabwean mines, could sell for around £1.25 billion.
 

 

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