Gold Fields Limited has entered into an agreement to sell its 19.9% stake in Sino Gold Mining Limited
Gold Fields Limited has entered into an agreement to sell its 19.9% stake in Sino Gold Mining Limited, an Australia-based company engaged in mining and processing of gold, to Eldorado Gold Corporation for approximately $282 million.
Gold Fields is a South Africa-based company engaged in exploring and mining of gold, copper, and coal. Eldorado Gold is a Canadian gold producer.
Gold Fields will receive 48 Eldorado shares for every 100 shares held in Sino Gold, on a fully diluted basis. Upon the completion, Gold Fields will own 27.82 million shares, representing approximately 7% stake, in Eldorado.
In addition, Gold Fields will hold a top-up right for a period of 18 months, under which Eldorado will acquire an additional 5% stake or more of the outstanding shares of Sino Gold, with an exchange ratio of 0.48 Eldorado shares per Sino Gold share received by Gold Fields.
The transaction is expected to close by the end of August 2009.
Related posts:
- Eldorado And Sino Gold Satisfaction Of Due Diligence Conditions
They are pleased to report that the due diligence conditions contained in their Scheme Implementation Deed have been satisfied and... - Gfi – Gold Fields Limited – Media Release – Gold Fields On Track To Achieve
Gold Fields Limited (Gold Fields) (NYSE, JSE, FX: GFI) today updated its operational guidance for Q2 F2009. Group attributable production... - Gold Fields Limited – Media Release – Gold Fields On Track To Achieve
Gold Fields Limited (Gold Fields) (NYSE, JSE, FX: GFI) today updated its operational guidance for Q2 F2009. Group attributable production...
Comments
Leave a Reply
