Tags: Eldorado Gold | Acquisition

Eldorado Gold to Buy European Goldfields for $2.4B

Sunday, 18 Dec 2011 06:34 PM

Gold and iron producer Eldorado Gold Corp. says it will buy European Goldfields Ltd. in a deal worth about $2.4 billion, increasing up its ability to produce gold.

The Vancouver, Canada, company says European Goldfields stockholders will receive 0.85 Eldorado share and a fraction of a Canadian cent for each European Goldfields share. That values each European Goldfields at 13.08 Canadian dollars ($12.59), based on Eldorado's closing stock price on the Toronto Stock Exchange Friday.

European Goldfields operates a mine in Greece and is developing projects in both Greece and Romania. Eldorado operates in China, Turkey, Brazil and Greece.

Eldorado says the deal will create a company with a market capitalization of about $10.59 billion and help diversify production. The deal requires approval from both Eldorado and European Goldfields shareholders.

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Gold and iron producer Eldorado Gold Corp. says it will buy European Goldfields Ltd. in a deal worth about $2.4 billion, increasing up its ability to produce gold.The Vancouver, Canada, company says European Goldfields stockholders will receive 0.85 Eldorado share and a...
Eldorado Gold,Acquisition
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2011-34-18
Sunday, 18 Dec 2011 06:34 PM
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