MMG's (HKG:1208) subsidiary MMG Singapore Resources agreed to acquire the entire issued share capital of Anglo American Níquel Brasil, an Angelo American nickel business in Brazil, from Ambras Holdings and Anglo American International Holdings.

MMG Singapore Resources also agreed to buy the Nickel Sales Function from Anglo American Marketing, a Tuesday bourse filing said.

The consideration for the acquisition comprises the aggregate of a bid amount of $350 million, the target group's indebtedness, the final amount of cash of the target group on closing, and the difference between the final amounts of its actual working capital and its base working capital.