AngloGold, Centamin shareholders approve acquisition
The shareholders of gold miners AngloGold Ashanti and Centamin have approved the deal whereby AngloGold intends to acquire Centamin for $2.5-billion.
The majority shareholder approval follows a court-sanctioned scheme of arrangement between Centamin and scheme shareholders under the Jersey Companies Law.
Centamin shareholders will receive 0.06983 new AngloGold shares for each Centamin share held, as well as $0.125 in cash for each Centamin share they hold.
Following the conclusion of the acquisition, AngloGold’s shareholders will own about 83.6% of the group’s enlarged issued share capital, while Centamin’s shareholders will own 16.4%.
The deal still needs to be sanctioned by the Jersey Court during a scheme court hearing on November 20, following which the scheme is expected to become effective on November 22.
Prior to this, Centamin plans to suspend the trading of its shares on the LSE before ultimately delisting. Centamin has already received conditional approval from the TSX to delist its shares.
AngloGold expects the deal to be accretive to free cash flow per share in the first full year following the completion of the transaction.
Centamin’s flagship asset is the Sukari gold mine, in Egypt, which is also one of the world’s largest producing gold mines. Adding this mine’s 450 000 oz/y of output to AngloGold’s portfolio will boost the enlarged group’s yearly production to more than three-million ounces.
AngloGold is poised to become the fourth-largest gold mining company globally – by volume – after Newmont Corporation, Barrick Gold Corporation and Agnico Eagle.
Comments
Research Reports
Projects
Latest News
Showroom
Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
