- Barrick Gold's (ABX -1.9%) move to bring in a local partner is a logical move to help jump-start the Jabal Sayid copper project in Saudi Arabia, but analysts say that doesn't change the fact that the 50% stake was sold at a fire sale price.
- RBC's Stephen Walker had valued the Jabil Sayid stake at $498M, more than double the final sale price; other analysts had lower valuations but were unanimous in their surprise at the cheap transaction.
- J.P. Morgan adds that settling the Saudi dispute could facilitate more corporate restructuring at ABX.
From other sites
at Nasdaq.com (Feb 24, 2015)
at Benzinga.com (Feb 23, 2015)
at Benzinga.com (Feb 19, 2015)
at CNBC.com (Jan 13, 2015)
at Nasdaq.com (Jan 6, 2015)
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