Posted October 21, 2018 08:29:17 The world’s biggest mining company, the A$500 million sale to a subsidiary of the company that owns the world-famous Macquarie Goldfields has been placed under a criminal investigation in the US.

Key points:The Australian Securities and Investments Commission (ASIC) has approved the sale of Macquarrie Goldfields to A$2 billion company owned by A$1 billion US firm The sale has been approved by US Securities and Exchange Commission (SEC) to an Australian subsidiary A $500-million takeover deal has been struck to sell Macquarell Goldfields, the biggest copper-mining company in Australia, to Australian giant Australian Minerals, the company said.

The deal is valued at $2.5 billion and is expected to be completed by the end of the year.

MacquarieGoldfields, which is a subsidiary company of MacQuarie Group, is the largest copper-mine in the world and has the world headquarters in Queensland, with operations across the US, Canada and Australia.

MacQuarieGoldfield has been embroiled in an ongoing criminal investigation by the Securities and Exchanges Commission (SEX) over its acquisition of Macdonald-Dodson in 2015.

It has been alleged that the takeover was in breach of the Foreign Corrupt Practices Act, which bans transactions involving “corrupt foreign nationals” who control or influence foreign governments.

The Australian Government’s Department of Foreign Affairs and Trade has been working with Australian Federal Police and other state and federal agencies to investigate the Macquarry Goldfields takeover.

MacDonald-Dotson, which has more than 30 million customers worldwide, has been a subject of investigations by the SEC, as well as by the US Department of Justice.

Macquarries Goldfields subsidiary is the biggest in the country, and operates in five different copper-producing regions.

Australian Minerals said it was committed to the full compliance of the law, and had fully cooperated with the investigation by ASIC.

“We are confident the company and its team of lawyers and regulators will fully comply with all relevant regulatory requirements,” the company’s statement said.

Macdonald-Dunlop’s chairman, Anthony J. Macdonald, said the sale was “an excellent opportunity for Australia and the wider Australian community to buy the company, and we are confident it will be done in a way that maximises shareholder value”.

“This deal provides an opportunity for Australian businesses and consumers to buy a large stake in a company that is one of the biggest producers in the Australian copper industry, with the potential to benefit all Australians and create jobs,” Mr Macdonald said.

As well as the $2 billion acquisition, Macquarlies Goldfields also said it had completed the acquisition of a 50 per cent stake in Australian mining company Goldfields Australasia Limited.

In addition, the Australian Minerales company said it planned to buy another 25 per cent of MacDonald-Dunlon in 2018.

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