Gold Fields selling Gold Roads stake for at least R1.3bn

Gold Fields will raise at least R1.3bn as it sells its stake in Gold Road Resources, its Australian partner in the new Gruyere mine.

In the latest sale, Macquarie is conducting a fully underwritten book building exercise to sell Gold Fields’ 9.9% stake in Gold Road in a process that will end when the New York markets close on Thursday evening. The realised price and total income from the sale will be known late on Thursday and released on the JSE on Friday morning.

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