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Sunday, July 26, 2015

India's Rajesh Exports Buys Valcambi,World's Largest Gold Refining Firm for $400 Million Monday July 27,2015

Rajesh Exports Ltd said on Monday July 27,2015 it bought Valcambi, the world's largest gold refining company, in an all-cash deal worth $400 million (Rs 2,540 crore at $1 = Rs 63.5)

The company was selected after a global search by Valcambi's existing owners led by Newmont Mining Corp

The deal will help it secure raw material supplies and will add to earnings per share, the company said.

India is the world's biggest consumer of gold, with annual demand hovering around 900 tonnes per year.

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