Quantcast

Friday, September 3, 2010

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

Email This Post Email This Post


July 16, 2009 by goldguru · Leave a Comment 

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.

Read more….

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!