Australians Take Brazilian Mining Stake

Australia Acquisition Corp has agreed to purchase a 9.7% stake in Brazil’s Ferrous Resources from Harbinger Capital Partners, it says. The Australian investment vehicle will swap 9.3m shares, worth about $93m, for the stake, as part of a broader $350m transaction that also involves Australia Acquisition getting Asian gaming assets. The transaction should be completed by august. Ferrous operates 6 iron ore mines in the states of Minas Gerais and Bahia. PrinceRidge advised Australia Acquisition.