Egypt: ECA nods to AngloGold Ashanti’s offer to acquire Centamin

The transaction, set to enhance AngloGold's presence in Africa, involves Centamin shareholders receiving 0.06983 new AngloGold shares and $0.125 in cash for each Centamin share

Staff Writer, Arab Finance

October 16, 2024

PHOTO

The Egyptian Competition Authority (ECA) has greenlit NYSE-listed miner AngloGold Ashanti’s $2.5 billion offer to acquire Centamin, according to disclosure by the London Stock Exchange.

Some conditions are still to be fulfilled before the deal is closed, including a sanction of the scheme by the Jersey Court.

The transaction, set to enhance AngloGold's presence in Africa, involves Centamin shareholders receiving 0.06983 new AngloGold shares and $0.125 in cash for each Centamin share.

AngloGold shareholders will hold about 83.6% of the company’s enlarged issued share capital, with Centamin shareholders holding around 16.4%.

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