Deals
Citic Group Agrees to Buy Gold One for South Africa Assets
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Citic Group, China’s biggest state-owned investment company, and partners agreed to buy Gold One International Ltd. for about A$444 million ($469 million), gaining gold assets in South Africa.
The group is offering 55 cents a share for each of Gold One’s, 28 percent more than its May 12 closing price, the Sydney-based company said today in a statement. China Development Bank Corp. and Long March Capital Group are the other members of the bidding group, which is seeking as much as a 75 percent stake and plans to keep the company trading in Australia and South Africa, with a potential listing in Hong Kong. Gold One climbed 16 percent in Sydney trading.