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AngloGold Ashanti|Centamin|Egypt|Sukari Gold Mine|Gold Mining
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AngloGold’s buyout of Centamin effective

22nd November 2024

By: Marleny Arnoldi

Online News Editor

     

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Gold miner AngloGold Ashanti’s acquisition of Egypt-focused gold miner Centamin has become effective.

Centamin’s share will delist from the TSX and LSE on November 25.  

Centamin shareholders will soon receive 0.06983 new AngloGold shares for each Centamin share held, as well as $0.125 in cash for each Centamin share they hold.

The deal has valued Centamin at about $2.5-billion.

AngloGold’s shareholders will own about 83.6% of the group’s enlarged share capital, while Centamin’s shareholders will own 16.4%.

The deal was sanctioned by the Jersey Court during a scheme court hearing on November 20, which was a necessary requirement for AngloGold’s takeover of Centamin.

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.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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