Yamana Gold to spin off Brio subsidiary as standalone company

Mon Oct 17, 2016 5:02pm EDT
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Oct 17 (Reuters) - Canadian miner Yamana Gold said on Monday it plans to spin off its Brio Gold subsidiary, which owns non-core gold mining properties in Brazil, to its shareholders.

Yamana shareholders will receive purchase rights in Brio as a dividend in-kind, which they can use to buy shares in the unit. It also said it would retain an unspecified stake in Brio after the spin-off. (Reporting by Nicole Mordant in Vancouver; Editing by Bernard Orr)