Kinross to sell Lundin Gold shares for approximately CAD$150 million

Written by Customer Service on . Posted in Public Companies.

TORONTO, Dec. 05, 2019 (GLOBE NEWSWIRE) — Kinross Gold Corporation (TSX:K; NYSE:KGC) (“Kinross”) announced today that it has agreed to sell its remaining 20,656,250 shares in Lundin Gold Inc. (“Lundin Gold”) to a syndicate of buyers for expected gross proceeds of approximately CAD$150 million.
The syndicate of buyers includes a wholly-owned subsidiary of Newcrest Mining Limited and the Lundin Family Trust. The shares for sale represent approximately 9.2% of the issued and outstanding shares of Lundin Gold and are based on Lundin Gold’s latest publicly released information regarding the number of shares currently outstanding. Closing of the sale is expected to occur on or about December 9, 2019.Kinross is selling its Lundin Gold shares as part of its portfolio management strategy and to further strengthen its balance sheet.About Kinross Gold Corporation

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.