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LINGBAO GOLD Invests RMB1.74B to Acquire 50%+ Stake in Australian Mining Firm
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On 10 December, LINGBAO GOLD (03330.HK)'s wholly-owned subsidiary, Lingbao Gold International, entered into an agreement with Australian listed company, St Barbara Limited, to acquire a 50%+ 1 share of the equity interest in St Barbara Limited's Australian mining company, St Barbara Mining Pty Ltd, at a total consideration of AUD370 million, equivalent to approx. RMB1.735 billion, as announced by LINGBAO GOLD. Approx. 30-40% of the consideration will be funded by the Group's own capital, while the remaining approx. 60-70% is expected to be financed through loans from banks. AASTOCKS Financial News Website: www.aastocks.com |
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