Street Talk

RCF sells Highlands Pacific stake

RCF, the world’s largest resources-focused private equity investor, sold 86,051,818 shares in Highlands for 42¢ each.

Sarah Thompson and Khia Mercer

Updated Dec 10, 2010 – 3.38pm, first published at 3.33pm

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Resource Capital Funds has offloaded its entire 12.55 per cent stake in Papua New Guinea explorer Highlands Pacific to a range of institutions for $36.1 million.

RCF, the world’s largest resources focused private equity investor, sold 86,051,818 shares in Highlands Pacific for 42¢ each. It is understood the sale was handled by Southern Cross Equities.