Fortiana Holdings buys 40.06% in HGM for $3.89 per share - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Fortiana Holdings buys 40.06% in HGM for $3.89 per share

†MOSCOW, Jul 31 (PRIME) -- Fortiana Holdings of businessman Vladislav Sviblov has agreed to buy 40.06% in U.K. Highland Gold Mining (HGM), which mines in Russia, for 3 British pounds apiece, or for about U.S. $3.89 per security, a total of around $567.66 million, Fortiana said in a statement on Friday.

УToday, Fortiana agreed to buy 145,759,871 shares of Highland Gold, which accounts for 40.06% of the shareholder equity of Highland Gold, from the following shareholders of Highland Gold: Roman Arkadyevich Abramovich, Yevgeny Shvindler, Irina Aleksandrovna Panchenko, Andrei Viktorovich Gorodilov, Alexei Leonidovich Polezhayev, New Evolution Trading Limited, Matteson Overseas Limited, and Denalot Worldwide Limited for the price of 3 British pounds per share of Highland Gold (approximately $3.89),Ф the statement read.

Given the offer conditions, Fortiana Holdings evaluated the entire equity of HGM at 1.092 billion British pounds, or at $1.4 billion.

HGM is one of RussiaТs top 10 gold producers, and it also operates in Kyrgyzstan.

End

31.07.2020 09:50
 
 
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