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EastRussia Newsletter: FAS approves sale of "Supreme" to investors from China

EastRussia Newsletter: FAS approves sale of "Supreme" to investors from China
Photo: EastRussia

The Federal Antimonopoly Service has granted the May List company, an affiliate of Fosun, a Chinese financial and industrial conglomerate, to acquire a 100% gold mining company PJSC Vysochaishy (GV Gold), according to the latest EastRussia newsletter.

The interest of a consortium of Chinese investors in acquiring the Highest became known in the summer of 2019. The value of the asset was tentatively estimated at one billion US dollars, however, there were reports of disagreements between the parties on the issue of price. The attractiveness of gold mining assets is due to rising global gold prices, but at the same time, a favorable market situation leads to an increase in the value of gold mining companies.

Detailed analytics on this and other relevant topics can be found in EastRussia Weekly Newsletter.

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