Abramovich sells 40.06% stake in Highland Gold to Fortiana

TAGS: Cyprus, Markets, Business

Russian businessman Roman Abramovich and his partners are selling a 40.06% stake in Russian mid-sized gold producer Highland Gold to a Russian businessman, who will make a cash offer to the remaining shareholders, they said on Friday.

Vladislav Sviblov’s Fortiana Holdings Limited, a Cyprus-registered company with interests in zinc and gold projects in Siberia, agreed to buy 145,759,871 shares in Highland Gold from Abramovich and his partners at 3.00 pounds ($3.94) per share.