China’s Zijin faces delays to its $4bn swoop for Allied Gold - FT中文网
登录×
电子邮件/用户名
密码
记住我
请输入邮箱和密码进行绑定操作:
请输入手机号码,通过短信验证(目前仅支持中国大陆地区的手机号)。如果该手机号尚未注册,将自动创建 FT中文网账号。短信可能需要几分钟送达,验证码15分钟内有效,请耐心等待:
请您阅读我们的用户注册协议和隐私权保护政策,点击下方按钮即视为您接受。
FT商学院

China’s Zijin faces delays to its $4bn swoop for Allied Gold

Allied’s biggest mine is in Mali, which has arrested a number of foreign executives in recent years
00:00

{"text":[[{"start":7.75,"text":"Hong Kong-listed Zijin Gold International’s $4bn takeover of Canada’s Allied Gold is facing delays because of opposition from regulators in Beijing, threatening the Chinese group’s first major deal since its initial public offering."}],[{"start":21.75,"text":"China’s powerful regulator, the National Development and Reform Commission, has questioned the premium Zijin is paying as well as the geopolitical risks associated with Allied’s gold mine in Mali, according to people familiar with its thinking. "}],[{"start":35.15,"text":"The company’s biggest mine by current production is Sadiola in the West African country, which was rocked by political violence last month. "}],[{"start":43.5,"text":"The all-cash transaction, agreed in January, was seen as a high-water mark for the gold fever that sent bullion prices to records of more than $5,500 per troy ounce just three days after the deal was announced. Prices have since fallen to about $4,500 per troy ounce. "}],[{"start":62.45,"text":"A delay in the Chinese regulatory approval process has become a major problem, causing people close to the transaction to question whether it will proceed as planned. The original agreement had a closing deadline of Friday May 29, which can be extended if both sides agree. "}],[{"start":79.45,"text":"A spokesperson for Allied said: “There is strong industrial and commercial logic for this transaction, and both parties continue to work diligently towards closing.” "}],[{"start":88.7,"text":"Toronto-listed Allied produces bullion in Mali and Côte d’Ivoire, and is on the cusp of commissioning the large Kurmuk mine in Ethiopia. "}],[{"start":97.75,"text":"In April, Mali experienced violent attacks by separatist and jihadist rebels, which killed several senior government officials. "}],[{"start":106.4,"text":"The military government has also arrested several foreign mining executives over the past two years and renegotiated its contracts with miners including Barrick Gold and Resolute Mining. "}],[{"start":116.85000000000001,"text":"That history is making Chinese regulators hesitant for the country’s companies to get more deeply involved in Mali, according to people close to the regulator. "}],[{"start":125.60000000000001,"text":"Allied’s shares have dropped about 13 per cent since the violence broke out, though the company said last month that the Sadiola mine was not directly affected."}],[{"start":134.8,"text":"Allied’s share price is currently at C$37.31 — far below Zijin’s offer price of C$44 per share — implying the market is already pricing in the possibility of the deal collapsing. The offer represented a 27 per cent premium to Allied’s undisturbed 30-day average when the deal was struck."}],[{"start":155.75,"text":"For Zijin Gold, which listed last autumn in a blockbuster public offering, the transaction was supposed to be its first major foray into international dealmaking following the IPO. "}],[{"start":167.7,"text":"With a market capitalisation of $44bn, Zijin Gold is a subsidiary of Fujian-based Zijin Mining and holds overseas gold assets spanning from Africa to South America and Australia."}],[{"start":181.39999999999998,"text":"China’s NDRC is one of the world’s most powerful and far-reaching regulators for global resources deals, and its approval is required for the Zijin-Allied deal under the country’s outbound investment review process. "}],[{"start":194.49999999999997,"text":"Zijin Gold declined to comment. The NDRC could not be reached for comment. "}],[{"start":200.19999999999996,"text":"Additional reporting by Cheng Leng in Beijing"}],[{"start":211.34999999999997,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780106708_6073.mp3"}

版权声明:本文版权归FT中文网所有,未经允许任何单位或个人不得转载,复制或以任何其他方式使用本文全部或部分,侵权必究。

学生担心AI即将毁掉他们的未来

大型科技企业引发的变革,及其对就业前景的影响日益令年轻人感到焦虑和愤怒。

FT民调:美国选民担忧特朗普执政期间的腐败问题

随着中期选举临近,美国人将腐败与生活负担危机联系起来。

丰田在人形机器人竞赛中迎战特斯拉和中国

丰田正将二十年来在机器人领域的研发成果商业化,进军智能机器人市场,并与特斯拉、小鹏和现代展开竞争。

空客将与贝宜系统就参与全球作战空中计划战机项目展开谈判

与法国、西班牙的竞争性未来空战系统(FCAS)合作项目破裂后,德国正考虑加入英国、意大利和日本的项目。

一周展望:美联储会释放加息信号吗?

投资者还将关注欧洲央行是否会对法国的局势采取行动,以及日本央行是否会明确支持市场对利率路径的预期。
7小时前

奥迪将在美国建厂,投资40亿美元以应对关税

这项举措是在特朗普于佐治亚州举行的集会上宣布的,正值这家汽车制造商及其母公司大众寻求减轻总统加征关税的压力。
设置字号×
最小
较小
默认
较大
最大
分享×