| MMC Norilsk Nickel (GMKN$ RU, NILSY US, MNOD LI, NNIR GR) announced today that it has purchased for cash, through its wholly owned London based subsidiary Norimet, approximately 98.5 million ordinary shares of Gold Fields Limited (Gold Fields) for an aggregate purchase price of approximately Rand 7.6 billion or Rand 77.50 per ordinary share. The purchase price equivalent in U.S. dollars is $1.16 billion or $11.79 per ordinary share based on an exchange rate of Rand 6.57 per one U.S. dollar. This purchase represents approximately 20% of the issued and outstanding shares of Gold Fields on a fully diluted basis. The seller is a subsidiary of Anglo American plc.
Mr. Leonid Rozhetskin, Vice Chairman of the Management Board of MMC Norilsk Nickel, stated that "Norilsk Nickel believes the purchase of a 20% stake in Gold Fields, with its world-class gold mining assets, to be an excellent investment. We think particularly highly of Gold Fields’ management. This share acquisition is wholly consistent with Norilsk Nickel’s strategy to increase our position in the gold mining industry."
MMC Norilsk Nickel is the world’s largest producer of nickel and palladium, and a major producer of platinum, copper and cobalt. Following a number of acquisitions in Russia, Norilsk Nickel is also one of the ten largest gold producers in the world and the largest in Russia.
Gold Fields, with over 4.3 million ounces of attributable annual gold production and 84 million ounces of mineral reserves, is one of the world’s largest gold producers. The company operates in three key gold mining countries, South Africa, Ghana and Australia, and is conducting exploration through active projects on five continents - Africa, Europe, North America, South America and Australia. Gold Fields is listed on the JSE Securities Exchange and the London Stock Exchange, among others, and its ADS are listed on the New York Stock Exchange under the symbol GFI.
BMO Nesbitt Burns Inc. acted as financial advisor to MMC Norilsk Nickel on this share purchase transaction.
For further information, please contact:
Christophe Charlier Head of Strategic Development and M&A, MMC Norilsk Nickel
+7 095 785-0030 Sergey Polikarpov Head of Investor Relations, MMC Norilsk Nickel
+7 095 785-1090
Sergey Chernitsyn Head of Press Relations, MMC Norilsk Nickel
+7 095 797-8259 |
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