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Ventana Agrees to Accept Batista’s Takeover Offer
Feb. 14, 2011 09:32AM PST
Precious Metals Investing
Bloomberg reports that Brazilian Billionaire Eike Batista’s AUX Canada Acquisition Inc. reached a verbal agreement to buy about 80 percent of gold explorer Ventana Gold Corp. in a deal that values the company at C$1.54 billion ($1.56 billion).
Bloomberg reports that Brazilian Billionaire Eike Batista’s AUX Canada Acquisition Inc. reached a verbal agreement to buy about 80 percent of gold explorer Ventana Gold Corp. in a deal that values the company at C$1.54 billion ($1.56 billion).
The market news is quoted as saying:
The deal will give Batista 100 percent of Ventana and access to 3.5 million ounces of gold, as well as silver and copper deposits in Colombia. Batista, who is planning to sell shares in a Colombian coal mine, follows Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc, in tapping the nation’s metal reserves at a time of near-record gold prices. Carlos Slim, the world’s richest person according to Forbes Magazine, said last week that he is seeking to boost his investments in Colombia because of the country’s open policy on commodities investment.
