A consortium of investors led by China's Fosun International Ltd (0656.HK) will buy a 10 percent stake in Russia's top gold producer Polyus (PLZL.MM) for $887 million, they said on Wednesday.
Russia, the world's third largest gold producer, has been looking for investments in Asia, mainly in China, since the West imposed sanctions on Moscow due to its role in the Ukraine crisis and the annexation of Ukraine's Crimea peninsula in 2014.
China is the world's top consumer, producer and importer of gold and Chinese companies have been targeting gold mine acquisitions.
Fosun, an acquisitive Chinese conglomerate, will buy 12,561,868 Polyus shares for $70.6025 per share from the family of Russian tycoon Suleiman Kerimov. ...
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