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La Mancha’s $200m investment in Endeavour completed

31st March 2021

By: Creamer Media Reporter

     

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Africa-focused miner Endeavour Mining has completed the previously announced investment by La Mancha Holding - a business owned by the Sawiris Family of Egypt.

Endeavour issued 8.91-million ordinary shares to La Mancha for aggregate net proceeds of $200-million at $22.45 a share, or C$29.36 a share.

The investment, which was announced as part of the acquisition of Teranga Gold in November last year, is being made by La Mancha under its pre-existing anti-dilution right. Upon completion of the investment, La Mancha’s future anti-dilution rights have now been extinguished.

La Mancha holds an interest of about 19% in Endeavour Mining.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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