Roman Abramovich et al sell stake in gold mine in £1bn deal
Investors holding about 40% of Highland Gold Mining have agreed to sell their shares to Fortiana, which hopes to buy the rest of the shares soon
31 July 2020 - 11:19
London — Billionaire Roman Abramovich has agreed to sell his stake in a Russia-focused gold miner, the latest in a wave of precious-metal deals, as bullion trades at a record high.
Abramovich and other investors holding about 40% of Highland Gold Mining agreed to sell their shares to Fortiana Holdings in a deal valuing the miner at about £1bn. Fortiana will make an offer to the rest of Highland’s shareholders at the same price of £3 per share, a 3.8% premium to Thursday’s closing price...
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