17.01.2020, 07:43
Chinese Investors Will Refuse to Purchase GV Gold with Assets in Yakutia
Source: OREANDA-NEWS
OREANDA-NEWS. Chinese investors, led by Fosun investment company, intend to abandon the purchase of GV Gold (Vysochaishy mine), which produces gold in the Irkutsk region and Yakutia. This was reported to the Russian media by two sources: one - close to the consultants of the transaction, and the second - to one of the parties.
A GV Gold spokesman said the documents were submitted to the government commission and negotiations with Chinese investors were ongoing. Fosun declined to comment. As one of the interlocutors of the media explained, the deal went wrong for purely commercial reasons. Amid rising gold prices, seller and buyer estimates diverged greatly, he said.
The start of negotiations between Fosun and GV Gold became known in June 2019. Then Bloomberg sources estimated the Russian company at $ 1 billion, although interlocutors of the Russian media called this amount overpriced and unlikely.
A GV Gold spokesman said the documents were submitted to the government commission and negotiations with Chinese investors were ongoing. Fosun declined to comment. As one of the interlocutors of the media explained, the deal went wrong for purely commercial reasons. Amid rising gold prices, seller and buyer estimates diverged greatly, he said.
The start of negotiations between Fosun and GV Gold became known in June 2019. Then Bloomberg sources estimated the Russian company at $ 1 billion, although interlocutors of the Russian media called this amount overpriced and unlikely.
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