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Chinese investors decided to buy GV Gold in Yakutia
Investors from China may refuse to purchase GV Gold, which mines gold in the Irkutsk region and Yakutia. Possible reasons for this are price differences that have arisen between buyers and sellers.
A possible transaction breakdown is reported RBC... In June 2019, when it became known about the beginning of negotiations between the Chinese Fosun and the Russian GV Gold, the value of the gold mining company was estimated by experts at one billion US dollars. However, the sources cited by the publication called this amount overstated and unlikely.
Initially, it was assumed that the transaction would not require approval by the Russian Government's Foreign Investment Commission. FAS confirmed that the investor will establish control over a company that does not have strategic importance for ensuring the country's defense and security. But later approval was nevertheless required, and the timing of the transaction was delayed. During this time, gold soared in price by 17%, and the issue of the cost of GV Gold has become even more controversial.This is not the first time Chinese Fosun has tried to acquire a gold mining company in Russia. So in 2017, she was going to acquire 15% of one of the largest enterprises in the industry - Polyus for $ 1,4 billion, but the deal fell through for unknown reasons.