TORONTO, Jan. 13, 2014 /CNW/ - Rio Tinto has acquired 510,983,220 common shares of Turquoise Hill under Turquoise Hill's rights offering at a total cost of C$1,292,787,546.60 or C$2.53 per share. The purchase represents approximately 50.8 per cent of the common shares offered under the rights offering. The rights offering, which closed today, was fully subscribed. As noted below, Turquoise Hill will be using a portion of the funds it receives under the rights offering to repay all amounts outstanding under the US$1.8 billion interim funding facility and the US$600 million secured bridge funding facility each provided to Turquoise Hill by Rio Tinto. Prior to the completion of the rights offering, Rio Tinto owned 510,983,220 common shares of Turquoise Hill, representing approximately 50.8 per cent of the outstanding common shares. Upon the completion of the rights offering, Rio Tinto owns 1,021,966,440 common shares, representing approximately 50.8 per cent of the outstanding common shares.