China National Gold is moving closer to making a formal offer for Barrick Gold’s 74 per cent stake in its London-listed African subsidiary, underlining growing interest from Chinese companies in acquiring gold assets globally.
The state-owned gold miner, whose interest could trigger a full takeover of African Barrick Gold, was set to meet with Canada’s Barrick this week, said people familiar with the matter, with one person suggesting that the chairmen of the two companies would discuss the deal.
Detailed price negotiations were expected to start in the next two weeks, they added, barring unforeseen problems.
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