Deals
China Gold Jeweler to Pay $665 Million for U.S. Oil Operator
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Goldleaf Jewelry Co., a Chinese jewelry retailer with gold mining investments, plans to buy U.S. oil and gas operator ERG Resources LLC for at least $665 million. Goldleaf’s shares surged.
The Beijing-based company will pay for the acquisition with a private share placement, raising as much as 5.7 billion yuan ($940 million) from no more than 10 investors, Goldleaf said in a statement today to the Shenzhen stock exchange. It will hold 95 percent of Houston, Texas-based ERG after the purchase.