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EGX - old post - Renova buys Aug.

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NYBob Member Level  Friday, 05/05/06 02:17:47 AM
Re: NYBob post# 13
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EGX - old post - Renova buys Aug. 2005 -

PRESS: Russia's Renova close to buying 25%
in Kazakh gold co -


Renova-Capital, affiliated with Russia's Renova
group, is about to close a deal to purchase
about 25% in Kazakh gold producer Charaltyn,
Vedomosti business daily reported Tuesday
citing three independent unspecified sources
close to the deal.

Alexander Yakubov, analyst with CenterInvest
told Vedomosti that Charaltyn could cost up
to U.S. $300 million.

In this case, the price for a 25% stake
might be $75 million, he said.

Renova Capital’s Managing Director Oleg Tsarkov
declined to comment on the deal.

But Kirill Lipa, managing director of Aton's investment
banking department, told Vedomosti he confirms that
Renova Capital is in talks to buy the stake.
Aton is acting as a consultant to Charaltyn,
the newspaper said.

On August 24, Charaltyn announced its plans to merge
with Canada's Eurasia Gold, Vedomosti said.

If Renova manages to buy the stake in Charaltyn,
it would get a chance to become a shareholder in Eurasia Gold,
which is listed on the Toronto stock exchange,
Vedomosti said.

Charaltyn is currently developing Kazakh gold deposits
with estimated reserves of about 85 tonnes.

Russia's Renova is controlled by billionaire
businessman Viktor Vekselberg.






Fund Rises $21Bln in H1
Aug 30, 2005
Billionaire Viktor Vekselberg's
holding company, Renova, agreed
to buy 25 percent of Kazakh gold producer
Charaltyn, Interfax reported,
- The Moscow Times,
UrAsia Energy Ltd.
The company's board of directors
includes Ian Telfer as its non-executive Chairman.

Russia's Renova is controlled by billionaire
businessman Viktor Vekselberg - wanted to buy
all of Charaltyn for $300 million -
he was only allowed to buy 25% for $75 million -
with a much higher POG $677.00/oz today it was
smart move - he would get about double today,


Posted By: Nobel1
at another forum

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