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Oxus to sell assets to KazakhGold for as much as $152 mln

Oxus Gold Plc, a UK owner of Central Asian mines, agreed to sell assets in Kyrgyzstan and Romania to KazakhGold Group Ltd. for as much as $152 million.

KazakhGold will acquire Oxus's 67% stake in Kyrgyz miner Talas Gold Mining Co. along with a 50% stake in Romanian joint venture Romaltyn, Oxus said today in a statement distributed by the Regulatory News Service statement.

KazakhGold will pay London-based Oxus 3.54 million new shares that are worth about $72 million and a deferred cash payment of as much as $80 million, Oxus said. (Bloomberg)