Rajesh Exports acquires Valcambi - World's Largest Gold Refinery

For a total investment of USD 400 million

Rajesh Exports through its wholly owned subsidiary in Singapore has fully acquired European Gold Refineries, the 100% holding company of Valcambi in an all cash deal with a total investment of USD 400 million.

Grant Thorton assisted Rajesh Exports in due diligence and Credit Suisse is part financing the acquisition through a long term debt.

Since the last 53 years Valcambi has been a consistently profit making and dividend paying company. For the last three years on an average per year Valcambi generated revenues in excess of USD 38 Bln (Rs 2,36,500 crore) and EBITDA of USD 33 Mln (Rs 205 crore) by refining and selling 945 tons of Gold and 325 tons of Silver per year. Valcambi is a Zero debt company with considerable cash surplus on it's balance sheet. KPMG is Valcambi's Auditor and has been auditing the company for more than 40 years.

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