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Eldorado to acquire rest of Sino Gold

Eldorado to acquire rest of Sino Gold

Canada's Eldorado Gold Corp. says it has reached a deal to acquire all remaining shares of Australia's Sino Gold Mining Ltd.
Sino Gold is one of the largest gold mining groups in China.
The all-stock deal is valued at 2 billion Canadian dollars ($1.8 billion). Sino Gold stockholders will receive 0.55 Eldorado shares for each share they own.
The deal allows Eldorado to complete the takeover of Sino Gold begun in June when it acquired a 20 percent stake in the company from Gold Fields Ltd. in Johannesburg.
Eldorado said Wednesday the latest acquisition has the unanimous support of Sino Gold's board and will result in a gold producer with combined market capitalization of CN$6.4 billion ($5.5 billion).
Headquarters will remain in Vancouver.


Updated : 2021-05-12 23:15 GMT+08:00