Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home General News

Chelsea Football Club owner sells gold mining stake for $1.4 billion

William Ukpe by William Ukpe
July 31, 2020
in General News
The owner of Chelsea Football club and other investors have agreed to sell 40% of a stake in Russian gold mining firm
Share on FacebookShare on TwitterShare on Linkedin

Roman Abramovich, the billionaire owner of Chelsea Football club and other investors have agreed to sell 40% of a stake in Russian gold mining firm, Highland Gold Mining for $1.4 billion to Fortiana Holdings Ltd.

It was also reported that Fortiana would offer the other existing shareholders of the firm the same offer of $3.94 per share at a 3.8% premium of the shareprice.

READ ALSO: Ighalo to earn N1.4 billion in six months at Manchester United 

Backstory: This comes at a period of rallying gold prices as Nairametrics reported earlier that gold prices surged over $1,800 per ounce for the first time since 2011, as the year to date inflows into bullion-backed exchange-traded funds (ETF) have topped the record full-year total, which was set in 2009.

Gold prices also set a record of $2000 per ounce before dropping to just above $1900 earlier this week

The gold rally has made gold mining firms attractive for further M&A activity, as Fortiana Holdings, owned by Russian businessman, Vladislav Sviblov looks to enter fully into space with other firms eyeing up smaller gold mergers around the world.

READ ALSO: Nigerian entrepreneur becomes first African woman to own a European club

Highland Mining directors have been urged by Citigroup to accept the offer as Fortiana says the deal would be financed through a loan from VTB Bank. Highland Mining firm as also risen with the gold rally as the stock price is up 47% year to date.

What this means: With the gold rally and economic uncertainty due to the global depressions caused by the pandemic, more gold mining firms are expected to be scooped up in M&A deals. For Chelsea fans, this could see the club having more funds for player transfers especially for a goalkeeper, as UEFA relaxed FFP regulations for clubs to afford players during the pandemic. Chelsea bought winger  Ziyech from Ajax for a €40 million fee and also bought German Striker, Timow Werner for a €53 million fee from RB Leipzig.

Related

Tags: Business NewsChelsea Football clubRoman AbramovichSports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Eco Bank
Access Bank
Bankers Committee
First bank


Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Kwakol Markets




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Rochas Okorocha raises alarm over EFCC’s invasion of his Abuja residence
    • SEC to resolve lingering identity management issues and unclaimed dividends
    • BWAM celebrates Dr Ola Brown, investor and finance expert, as one of 40 Under 40 Women in Asset Management

    Follow us on social media:

    Recent News

    Revealed: How much Governor Rochas Okorocha spent on the statues

    Rochas Okorocha raises alarm over EFCC’s invasion of his Abuja residence

    May 24, 2022
    SEC steps up fight against Ponzi schemes and illegal capital market operators

    SEC to resolve lingering identity management issues and unclaimed dividends

    May 24, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com