CAPITAL MARKETS

Harmony takes control of Abelle

HARMONY Gold has won control of Australian gold miner and explorer Abelle. The 75 cent per share and 45 cent per option bid - valuing Abelle at $155 million - closed Wednesday, with the South African major ending up with 84.57% of the shares and 63.18% of the options of the Australian gold miner and explorer.

Michael Quinn

However, with a holding of less than 90% Harmony cannot proceed to compulsory acquisition. Early last month, Abelle directors Peter Newton, Peter Cook and Peter Cunningham said they intended accepting...

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