Wolves owner looks to precious gems sector with £224m bid for mining group

Molineux, home to Wolverhampton Wanderers
A subsidiary of Wolverhampton Wanderers’ Chinese owner is looking to make its presence felt in the gemstones sector by tabling a £224m bid for mining group Gemfields. In doing so, Fosun Gold is looking to snatch Gemfields away from South African private equity group Pallinghurst, which last month tabled its own offer for the business. Fosun Gold has confirmed the cash offer, which is based on acquiring the entire issued share capital of Gemstones at a price of 40.85p per share. The price represents a 15.1% premium on the G... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...