Newmont-Newcrest Deal Gets Clearance From Korea Fair Trade Commission

(RTTNews) - Newmont Corporation (NEM, NGT.TO) announced that the Korea Fair Trade Commission has cleared the company to proceed with its proposed acquisition of Newcrest Mining Limited (NCM.TO), stating that the transaction does not violate Korea's Monopoly Regulation and Fair Trade Law. Newmont expects to close the transaction in the fourth quarter of the current year.

On May 14, Newmont announced its definitive agreement to acquire Newcrest. Other regulatory approvals to be secured for the proposed acquisition include the Australian Competition and Consumer Commission, the Australia Foreign Investment Review Board, the Japan Fair Trade Commission, and the Philippine Competition Commission.