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Shandong Gold seeks Brazilian miner
CHINA’S Shandong Gold Group, the parent of Shanghai-listed Shandong Gold Mining, has made a US$1 billion offer to acquire Brazil’s Jaguar Mining, two sources close to the deal said yesterday.
Shandong Gold is offering US$9.30 per share in cash, a 73 percent premium to Jaguar’s Tuesday close in New York.
If successful, the deal would be one of the biggest overseas acquisitions by a Chinese gold miner.
“Shandong Gold made the current offer about two weeks ago, and Shandong Gold has prepared cash to get the deal done,” said one of the sources, who declined to be named because he was not authorized to speak to the media.
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