A Chinese gold retailer agreed to acquire a Texas-based oil-and-gas producer for at least $665 million as part of a strategy to diversify away from processing gold jewelry. Goldleaf Jewelry Co. will finance the deal through a private placement that is expected to raise as much as 5.69 billion yuan ($937.9 million) from no more than 10 investors, it said Monday in a statement filed with the Shenzhen stock exchange. The company would hold 95% of Texas-based ERG Resources LLC after the transaction. ERG Chief Financial Officer Kelly Plato said the deal would provide funds for growth and that the company would retain current management. He declined to comment on whether the deal would require U.S. government approval, a step necessary only if the transaction would affect national security. Closely held ERG’s most significant assets are oil-producing leases in Santa Barbara County, Calif. The Houston-based company also been active […]