A consortium of China’s Fosun Group, Zhaojin Mining and Hainan Mining may get only 15% in Russian gold producer Polyus instead of 25% expected earlier.
In April, the documents of the Russian-Chinese investment commission provided that Fosun agreed to acquire 20-25% of Polyus for up to $2 billion.
A relevant agreement can be signed in the near future, although the procedure has been several times postponed.
The consortium is expected to buy 10% in Polyus from Said Karimov’s Polyus Gold International Ltd (PGIL) based on the company’s appraisal of $8.9 billion and will receive a call option for another 5% in the company during a year, and the value of this deal will be 10% higher than of the first one. PGIL can receive a total of around $1.4 billion from the deal, the daily said. (Prime/Ukrainian metal)
Your advertisement under each post on this site. DETAILS