eldorado-gold-launches-offer-for-remaining-80-of-sino-gold-mining

Eldorado Gold launches offer for remaining 80% of Sino Gold Mining

CanadaÆs Eldorado Gold makes an offer to increase its ownership of Sino Gold Mining to 100% and create an entity with a market capitalisation of $5.8 billion.

Canada's Eldorado Gold Corporation yesterday announced that it will use its own shares to acquire all the issued and outstanding shares in Sino Gold Mining, in a deal that values the target at A$2.2 billion $1.83 billion.

Eldorado already owns a 19.8% stake in the China-based gold mining and exploration company, which is listed in both Australia and Hong Kong. The combination of the two miners will produce a company with a market capitalisation of C$6.4 billion $5.8 billion that is 75% owned by Eldorado shareholders.

The business combination with Sino Gold enables Eldorado to realise its vision of establishing a leading presence in China, Paul Wright, president and chief executive officer of Eldorado,...

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