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BCX buy-out of Gold One to go ahead

15th January 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Consortium BCX Gold Investment Holdings will continue its buy-out of the remaining shares it does not already own in dual-listed Gold One after less than 10% of the remaining 9.97% shareholders objected.

The China-based consortium, which comprised CITIC Group subsidiary Baiyin Non-Ferrous Group, China Development Bank’s China-Africa Development Fund and Long March Capital Group, which increased its stake in Gold One from 88.77% to 90.03% in July, would acquire the remaining shares for A$0.30 a share.

Gold One would be delisted from both the ASX and the JSE on January 30, following the suspension of trade on January 17, after BCX paid out the Gold One shareholders on January 24.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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