Nikanor plc
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| Public holding company | |
| Fate | Merged into Katanga Mining Limited |
| Founded | July 2006 (Douglas, Isle of Man) |
| Founder | Dan Gertler |
| Defunct | July 2008 |
| Headquarters | Douglas, Isle of Man |
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Number of locations
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Katanga Province, Democratic Republic of the Congo |
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Area served
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Democratic Republic of the Congo |
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Key people
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| Total assets | US$452 million (2008) |
| Owner | Dan Gertler |
Nikanor plc was a publicly quoted holding company for Global Enterprises Corporate (GEC) with assets in the rich Copperbelt region in Katanga Province, Democratic Republic of the Congo (DRC).
Nikanor plc was incorporated in 2006 with its registered head office in Douglas, Isle of Man. Nikanor's stock was listed on the 's (LSE) Alternative Investment Market in London in July 2006. The initial public offering (IPO) raised US$400 million, and Nikanor's market capitalization reached $1.5 billion.
The senior management team of Nikanor included Emile Mota and Simon Tuma-Waku, who were the chief of staff and Minister of Mines and Energy under DRC President Joseph Kabila. According to Mining Journal, Kabila promulgated the new mining code in 2002.
In May 2007, Beny Steinmetz, Dan Gertler and the Gertler Group, Nikanor's three main stakeholders, launched a hostile take over bid for Nikanor. The bid valued Nikanor's shares at £6.00, the price when it floated, and was presented by the Cosaf Ltd consortium (which also includes the Swiss trader and Gertler's long-time associate, Glencore International AG and UK equity fund, RP Capital Partners). The bid was opposed by those shareholders in Nikanor not involved in the bid.
In January 2008, Nikanor was merged into Katanga Mining Limited. Katanga Mining Company (KMC) paid $452 million to Nikanor shareholders. Nikanor planned on participating in the consolidation of the companies operating in the Zambian–DRC Copperbelt region.
In a 2011 article by Reuters, journalists described how Glencore and Dan Gertler partnered in Nikanor from 2007 until its final merger with Katanga Mining.
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Wikipedia