AngloGold, Randgold team up in $488m bid for Moto

Gold companies AngloGold Ashanti and Randgold Resources, which are partners in Mali, on Thursday teamed up in a $488-million deal to acquire Moto Goldmines, which is developing a gold resource in the Democratic Republic of Congo (DRC).

The JSE-listed AngloGold said that it had entered into a series of agreements with the LSE-listed Randgold that could result in the payment of $244-million cash for 50% of Moto Goldmines. This was, however, dependent on Randgold acquiring Moto for $244-million in cash or shares or a combination of both.

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