Jump to content

Capital Group Buys 5% of Newcrest Mining for A$563 Million


drbubb

Recommended Posts

Capital Group Buys 5% of Newcrest Mining for A$563 Million

Email | Print | A A A

 

By Rebecca Keenan

 

Dec. 19 (Bloomberg) -- Capital Group Cos., the largest U.S. manager of stock and bond mutual funds, bought a 5 percent stake in Australian gold producer Newcrest Mining Ltd. for A$562 million ($389 million).

 

Capital Research and Management Co., part of the Los Angeles- based global investment manager, bought 22.9 million shares at an average price of A$24.54 from Aug. 18 to Dec. 17, according to a statement sent to the Australian stock exchange. It now holds 5.06 percent of the Perth-based company.

 

Newcrest is Australia’s biggest gold mining company.

 

 

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...