{"id":127583,"date":"2022-05-31T06:53:04","date_gmt":"2022-05-31T06:53:04","guid":{"rendered":"https:\/\/fin2me.com\/?p=127583"},"modified":"2022-05-31T06:53:04","modified_gmt":"2022-05-31T06:53:04","slug":"s-africas-gold-fields-to-buy-yamana-gold-in-6-7-billion-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/s-africas-gold-fields-to-buy-yamana-gold-in-6-7-billion-deal\/","title":{"rendered":"S.Africa's Gold Fields to buy Yamana Gold in $6.7 billion deal"},"content":{"rendered":"
(Reuters) – South African miner Gold Fields Ltd on Tuesday agreed to buy Canada-based precious metals miner Yamana Gold Inc in an all-share deal, valuing the Toronto-listed company at $6.7 billion.<\/p>\n
Gold Fields said its shareholders will own about 61% of the combined group, while Yamana Gold shareholders will own around 39% after the deal completes.<\/p>\n
The South African miner said Yamana\u2019s board has unanimously approved the deal and also recommended its shareholders to vote in favour of the offer.<\/p>\n
The offer consists of new shares or newly issued American Depositary Shares in Gold Fields at a fixed exchange ratio of 0.6 of a Gold Fields share for each Yamana share outstanding.<\/p>\n
Shares of Yamana will be delisted from the stock markets, while Gold Fields will continue trading in Johannesburg, where the combined group will have their headquarters.<\/p>\n