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.