Gold miner backed by property tycoon Nick Candy snaps up rival in £90m deal

Gold miner backed by property tycoon Nick Candy snaps up rival in £90m deal. by calum muirhead. updated:. a gold miner backed by property magnate nick candy has bought a rival in a £90million deal. metals exploration swooped on condor gold with a bid of £67.5million up front in cash and shares. condor shareholders will also be entitled to £22.6million in the future if it hits gold production and resource targets. the tie-up came after the mail revealed metals exploration – 38 per cent-owned by candy – was prepared to go hostile with its bid. but jim mellon, condor’s chairman, and other investors supported the move. mellon, 67, owns 26 per cent of condor, while candy, 51, whose wife is pop star holly valance, made his fortune through luxury developments. metals operates in the philippines and its shares have more than doubled in a year. condor owns a project in nicaragua. windfall: nick candy (pictured with wife holly valance) owns a 38% stake in aim-listed metals exploration. diy investing platforms. aj bell. aj bell. easy investing and ready-made portfolios. hargreaves lansdown. hargreaves lansdown. free fund dealing and investment ideas. interactive investor. interactive investor. flat-fee investing from £4.99 per month. saxo. saxo. get £200 back in trading fees. trading 212. trading 212. free dealing and no account fee. affiliate links: if you take out a product this is money may earn a commission. these deals are chosen by our editorial team, as we think they are worth highlighting. this does not affect our editorial independence. compare the best investing account for you. share or comment on this article: gold miner backed by property tycoon nick candy snaps up rival in £90m deal. some links in this article may be affiliate links. if you click on them we may earn a small commission. that helps us fund this is money, and keep it free to use. we do not write articles to promote products. we do not allow any commercial relationship to affect our editorial independence. this article was originally published by a read the original article here.