Sparky International Company Limited made an offer to acquire 92% stake in Tietto Minerals Limited (ASX:TIE) from Chijin International (HK) Limited and others for AUD630 million on October 29, 2023. The Offer is conditional upon a 50.1% minimum acceptance condition. It is also subject to a number of other conditions, including Chinese regulatory approvals from the NDRC, MOFCOM and SAFE having been obtained, and approval from the Ministry of Mines, Petroleum and Energy of Côte d'Ivoire having been obtained. The cash consideration payable under the Offer will be obtained by Zhaojin Capital from the internal cash reserves of Zhaojin Mining Industry. The Board has appointed Barrenjoey and Corrs Chambers Westgarth as financial and legal advisers to help them consider the Indicative Proposal. Standard Chartered Bank (Hong Kong) Limited as financial advisor, Computershare Investor Services Pty Limited as share registrar and Herbert Smith Freehills as legal advisor to Sparky International Company Limited.

Sparky International Company Limited cancelled the acquisition of 92% stake in Tietto Minerals Limited (ASX:TIE) from Chijin International (HK) Limited and others on November 27, 2023.