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Chinese consortium ups Gold One stake to over 90%

22nd July 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – ASX- and JSE-listed Gold One on Monday reported that majority shareholder BCX Gold Investment Holdings upped its stake in the gold mining group from 88.77% to 90.03%.

This represented an 18-million rise in shares from 1.261-billion, to 1.279-billion.

The China-based consortium, which comprised CITIC Group subsidiary Baiyin Non-Ferrous Group, China Development Bank’s China-Africa Development Fund and Long March Capital Group, had also acquired the right to compulsorily acquire any remaining Gold One shares.

BCX Gold now had a six-month period to make an offer to acquire all the remaining Gold One shares and a compulsory acquisition procedure would be set out in the acquisition notice.

Edited by Creamer Media Reporter

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