Alkane Resources (ASX:ALK) received regulatory approval in Sweden for its acquisition of Toronto Stock Exchange-listed Mandalay Resources, according to a Thursday filing with the Australian bourse.
The Swedish Inspectorate of Strategic Products has decided not to review the transaction under the Swedish FDI Act, allowing the acquisition to proceed under Swedish law, the filing said.
The transaction is still pending several approvals, including those from the Supreme Court of British Columbia, the Foreign Investment Review Board of Australia, and both parties' shareholders, per the filing.
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