Australia's OZ Minerals Receives Approval For Vietnam's BHP Group Takeover

On Tuesday, Australia's OZ Minerals announced that BHP Group's A$9.6 billion ($6.38 billion) takeover of the company had been approved by Vietnam's Competition and Consumer Authority.

The proposed buyout was also approved by Brazil's competition regulator, the Administrative Council for Economic Defense, in early February.

On December 22, the copper-gold producer signed a scheme implementation agreement with BHP, the world's largest listed miner, to proceed with the takeover formally.

The scheme is still subject to other conditions, including shareholder approval and approval by an Australian court. According to OZ Minerals, the scheme meeting will take place on April 13.