Base Resources Limited (ASX:BSE) agreed to acquire Madagascar Mineral Fields Ltd and Malagasy Sands No.2 Ltd from World Titane Holdings Limited for $92 million on December 19, 2017. Base Resources Limited will acquire an initial 85% interest for a consideration of $75 million and the remaining 15% interest for $17 million payable on achievement of key milestones in the Toliara Sands Project. The funds for the acquisition will be raised through a share placement and renounceable entitlements offer. The deal is conditional upon Base Resources Limited completing an equity raising to fund the transaction. As of December 21, 2017, Base Resources has completed the placement and entitlement offer. The transaction is expected to be completed in late January 2018. As of January 15, 2018, the transaction has become unconditional and is scheduled to complete during the week beginning January 22, 2018. Simon Reed, Sevan Gore, Nick Harding and James Moorman of Herbert Smith Freehills LLP acted as legal advisor to Base Resources in the transaction. RFC Ambrian acted as financial advisor to Base Resources Limited (ASX:BSE). Base Resources Limited (ASX:BSE) completed the acquisition of Madagascar Mineral Fields Ltd and Malagasy Sands No.2 Ltd from World Titane Holdings Limited on January 22, 2018.