https://www.miningweekly.com

Polyus says $887m deal with China’s Fosun dropped

15th January 2018

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Russia's Polyus said on Monday that an agreement to sell a 10% stake in the company to a consortium led by China’s Fosun International had been terminated.

A condition precedent to the transaction was not met, following which the agreement to sell 12 561 686 of the ordinary shares in Polyus for $70.6025 a share had been terminated, Russia's top gold producer said.

The transaction was valued at $887-million.

The Fosun consortium also had an option to acquire an additional 5% in Polyus for $77.6628 a share by the end of May 2018. The option has also been terminated.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.536s - 110pq - 2rq
Subscribe Now