EBX Bids to Acquire Ventana

23 November 2010 (Last Updated November 23rd, 2010 18:30)

EBX Group, an investment company controlled by Brazilian billionaire Eike Batista, plans to acquire its remaining shares at Ventana Gold. The company owns a 20% stake in the Canadian mining firm and plans to make a formal offer to buy the remainder at C$12.63 (US$11.74) a share.

EBX Group, an investment company controlled by Brazilian billionaire Eike Batista, plans to acquire its remaining shares at Ventana Gold.

The company owns a 20% stake in the Canadian mining firm and plans to make a formal offer to buy the remainder at C$12.63 (US$11.74) a share.

Ventana owns a mining project at La Bodega in Colombia and expects the mine to produce 347,000 gold equivalent ounces a year, at a cost of US$322 an ounce.