The total consideration for this transaction is $110m of which $47m accounts for Kazzinc’s 48.3% share in Novo and $63m to be paid as repayment of Kazzinc’s share of intercompany debt.
Upon completion of the transaction, Highland Gold’s stake in Novo will be increased to 96.6%.
The transaction is expected to close by the end of the year, subject to approval by Russian anti-monopoly authorities and completion of definitive legal documentation.
