Fo­sun plan to buy Gem­fields

The Star Early Edition - - BUSINESS REPORT -

FO­SUN joined the race for Fabergé owner Gem­fields af­ter it made an ini­tial pro­posal re­gard­ing a pos­si­ble cash of­fer for the Bri­tish com­pany that mines for emer­alds and amethysts in Zam­bia and ruby and corun­dum in Mozam­bique. China’s Fo­sun Gold, part of Fo­sun In­ter­na­tional, pro­posed to buy Gem­fields at 40.85 pence (R6.63) per share, a pre­mium of 15.1 per­cent to Gem­field’s clos­ing price of 35.5 pence on Tues­day. The pro­posal val­ues Gem­fields at £224.6 mil­lion (R3.65 bil­lion).

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