Deals
Barrick Taps Credit Suisse for Sale Said Worth $1 Billion
- Toronto-based gold miner announced Australia sale with results
- May attract interest from Newmont, as well as Chinese miners
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Barrick Gold Corp., the world’s largest gold miner, may fetch as much as $1 billion for its 50 percent stake in the Kalgoorlie Super Pit mine in Australia, according to people familiar with the matter.
Barrick, which announced plans to sell the stake in its second-quarter earnings release, has hired Credit Suisse Group AG to advise on the sale, a spokesperson for the Canadian producer confirmed. The company wouldn’t comment on how much it believes the stake is worth.