Dragon Group to acquire CGA in $500m deal

The move is part of the electronics company’s plan to diversify its business portfolio.

Fund manager Dragon Group bought mining firm Coeur Gold Armenia (CGA) for $500m.

According to an announcement, Dragon Group wants to cater to growing demand from Indian and Chinese markets by developing gold-based technological components such as chipsets in mobile phones.

CGA is a firm from Africa which focuses on business of gold, silver and copper mining.

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