Eldorado Gold Corporation announced that Gold Fields Limited has confirmed the divestiture of its shareholding in Eldorado. Gold Fields predecessor, Gencor Limited, acquired its initial shareholding in Eldorado in 1996 through the Eldorado's acquisition from Gencor of a portfolio of assetsm which included the Sao Bento Mine in Brazil.
As of December 31, 2002, Gold Fields held 30,479,959 (14.78 percent) of the issued and outstanding shares of Eldorado. Since January 2003 Gold Fields has reduced its interest in Eldorado and as of June 20, 2003, no longer holds shares in Eldorado.
Gold Fields' previous shareholding in Eldorado has been sold into the market and Eldorado considers those shares to now be widely held, according to a company press release. Eldorado is a gold producing and exploration company with gold assets in Brazil and Turkey. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
