Qatar in talks to buy 49% stake in Brazilian gold miner
- Qatar: Tuesday, September 25 - 2012 at 09:11
The investment arm of Qatar's sovereign fund, Qatar Holding is in advanced talks to buy a 49% stake in Brazilian billionaire Eike Batista's gold company AUX for about $2bn, Reuters has reported, citing three banking sources. Batista said in June that he expected to sell the AUX stake, which owns gold mining rights in Colombia, for about $2bn by September. Talks between the two parties are in advanced stages and an agreement may be reached as early as this month, one of the sources said. Swiss bank Credit Suisse is advising Qatar Holding on the transaction, while Brazil's Itau Unibanco is advising the seller, the sources said.
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