Eldorado Gold Buys Sino Gold Mining for $1.8B
updated Wednesday, August 26, 12:38 PMCanada’s Eldorado Gold Corp. (EGO) said today it would buy Australian company Sino Gold Mining (SIOGF) in a deal valued at 2.2 billion Aussie dollars, or $1.8 billion U.S.
Sino Gold shareholders will receive 0.55 Eldorado shares for each of their Sino Gold shares, more than a 20 percent premium on Sino’s closing price Tuesday.
Eldorado said the acquisition makes it the leader among international gold producers in China.
For MarketNewsVideo.com, I'm Michael Phillips.