Russian billionaire Roman Abramovich agreed to sell his stake in Highland Gold Mining Ltd. to Fortiana Holdings Ltd. in a deal valuing the miner at $1 billion. Fortiana is headed by Russian entrepreneur Vladislav Sviblov, who last month sold his stake in rival gold miner Petropavlovsk. The 3-pounds-per-share offer represents a 20% premium to Highland’s volume-weighted average price over the one-month period ended July 30, and will give Fortiana additional exposure to the gold market, which is enjoying a historic rally. The miner’s independent directors, who have been advised by Citigroup Inc., will be recommending ... (full story)