News Formal

Kinross selling Russian business to Highland Gold for US$680-million

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 92%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The move comes at a discount to the mines’ value, and the Toronto company will have to wait years to get the bulk of the payments

is selling its Russian business to a Russian company at a discount and will have to wait years to get the bulk of the payments.

Kinross will receive only US$100-million up front, and is due to receive the balance in tranches over the next five years. The deferred payments are secured by financial guarantees, including share pledges. From a geopolitical risk viewpoint, however, Kinross will now be seen as a far less risky bet for investors. The company has long traded at a discount to peers, such as Agnico Eagle Mines Ltd., as a result of its exposure to Russia.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 5. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Oil tycoon George Kaiser aims to reopen U.S. IPO market with Excelerate listingTexas-based LNG company is aiming to raise US$384-million
Källa: globeandmail - 🏆 5. / 92 Läs mer »