Chelsea owner Roman Abramovich agrees to sell stake in gold mine worth £1billion

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Russian billionaire and Chelsea owner, Roman Abramovich is set to get richer, as he has agreed to sell his gold mine in a deal said to be worth £1billion.

Abramovich, whose financial worth reduced this year due to the covid-19 pandemic, has agreed to sell his stake in Highland Gold Mining Ltd to Fortiana Holdings Ltd, according to Bloomberg.

The gold market is enjoying a resurgence amid the pandemic and the 53-year-old who is currently valued at around $12billion (£9m) by Forbes, will now sell his 40 per cent stake in Highland Gold, in which he was a shareholder for many years.

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Fortiana Holdings Limited, a Cyprus-registered company of Russian businessman Vladislav Sviblov, agreed to buy 145,759,871 shares in Highland Gold from Abramovich and his partners at £3.00 per share.


Highland Gold is one of the top ten gold producers in Russia with several mines in Russia’s Far East.

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The offer is expected to complete in the fourth quarter of 2020.

Chelsea have won 16 trophies since Abramovich bought the club.


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