AngloGold bids $2.5bn in cash and shares for Centamin

ANGLOGOLD Ashanti has launched a $2.5bn share and cash takeover of Centamin, the 450,000 ounce a year gold miner.The offer, which has been accepted by Centamin’s board, values the company’s shares at 163 pence representing a 36.7% premium to Centamin’s closing price on Monday.Centamin operates the Egyptian gold miner Sukari which produced 224,738 oz in the first half of this calendar year. It also recently completed a definitive feasibility study on Doropo, a project in the Ivory Coast it expected to cost the $373m.AngloGold CEO Alberto Calderon said the proposed transaction was free cash flow accretive in the first full year of production and NAV accretive from day one. “It will also offer additional upsides as we leverage our corporate infrastructure and our core competencies in exploration, operations and asset optimisation,” he said. The post AngloGold bids $2.5bn in cash and shares for Centamin appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com