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Rio Tinto Completes Acquisition Of Turquoise Hill

Dec 16, 2022•almost 3 years ago

Acquiring Company

Rio Tinto

Acquired Company

Turquoise Hill Resources

LondonMiningFinancial Services

Description

Rio Tinto has completed its acquisition of Turquoise Hill Resources Ltd (TSX: TRQ) (NYSE: TRQ) (“Turquoise Hill”) for a consideration of approximately $3.1 billion1, simplifying its ownership of the world-class Oyu Tolgoi mine in Mongolia, significantly strengthening Rio Tinto’s copper portfolio, and demonstrating its long-term commitment to the project and Mongolia.

Company Information

Company

Rio Tinto

Location

London, England, United Kingdom

About

Rio Tinto Group is a leading global mining and metals company. It specializes in the exploration, production, and marketing of metals, including aluminum, copper, diamonds, gold, and uranium. The company is committed to sustainable practices and plays a key role in the global energy transition. Rio Tinto operates across multiple continents and aims to create long-term value through responsible resource management.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed