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Endeavour Mining buys Semafo for $690.7 million

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Christian Fernsby ▼ | March 23, 2020
Endeavour Mining said on Monday it will acquire Semafo in a C$1 billion ($690.7 million) deal.
Endeavour Mining
Mining industry   Endeavour Mining
This will create the biggest gold producer in Burkina Faso and Ivory Coast.

Topics: Endeavour Mining Semafo

Endeavour shareholders will own about 70% of the combined company, with Semafo shareholders holding the rest.

Under the deal, Semafo shares will be exchanged at a ratio of 0.1422 Endeavour shares for each Semafo share, which represents a premium of 54.7% from the closing price of Endeavour and Semafo on Friday, an Endeavour statement said.