From the Wires
Fleurette Properties Limited: Sale of 49.5% Interest in Camrose Resources Limited and Outstanding Minorities in La Congolaise des Mines et de Dévelopment Sprl
By: PR Newswire
Dec. 9, 2012 07:49 AM
LONDON, December 9, 2012 /PRNewswire/ --
Fleurette Properties Limited ("Fleurette"), owned by a discretionary trust for the benefit of the family of Dan Gertler, is pleased to confirm that it has entered into an agreement to sell 49.5% of the share capital of Camrose Resources Limited ('Camrose'), as well as the outstanding share capital in La Congolaise des Mines et de Dévelopment Sprl ('Comide'), to ENRC Congo BV, a subsidiary of Eurasian Natural Resources Corporation PLC ('ENRC') for US$550m. Upon completion of this transaction, Camrose and Comide will be indirectly wholly owned by ENRC.
Shimon Cohen, a spokesman for the Fleurette Group, said:
"We are delighted to confirm the entry into another important deal with one of the world's leaders in the global mining industry. We believe that this transaction represents a good and fair deal for Fleurette and ENRC. Our strategy has been to attract investors, create value from our assets, to create jobs and to generate wealth for the people of the DRC. Fleurette is committed to investing heavily in the country and further development of its assets, creating jobs and revenue that will contribute to the growing economy and well-being of the people in the DRC."
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