EMR and Farallon complete the acquisition of Martabe gold mine

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JAKARTA (TheInsiderStories) – Private equity firm EMR Capital (EMR) and global investment firm, Farallon Capital Management, L.L.C. (Farallon), said they have completed the acquisition of the Martabe gold and silver mine in North Sumatra, Indonesia. The buyers have earlier agreed to buy 95 percent shares of G-Resources Group Limited in Martabe for US$775 million.

Martabe has a resource base of 7.4 million ounces of gold and approximately 69 million ounces of silver.  The purchase of Martabe comes as prices for the precious metal trade at their highest levels in twelve months and gold sector fundamentals continue to advance.

The buyers group was led by entities managed by EMR and Farallon, which also includes entities owned by Martua Sitorus and entities owned by members of the family of Robert Budi Hartono and Michael Bambang Hartono, acquired the shares.

Jason Chang, Co-Founder and CEO of EMR said the purchase reflected EMR’s positive view on gold and one of its key acquisition focus for the Group.

“We are very pleased to complete the acquisition of Martabe which has exceptional quality and growth potential. This will build on the strong investment base we have established to date and significantly enhance the value and depth of our investment portfolio,” he said.

EMR Capital is a specialist resources private equity manager with a proven track record in resources project development, operation and investment, and deep linkages in the Asian markets. EMR was founded by Jason Chang and Owen Hegarty. (*)

 

The post EMR and Farallon complete the acquisition of Martabe gold mine appeared first on The Insider Stories.

Source: The Insiderstories
EMR and Farallon complete the acquisition of Martabe gold mine

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