Gold Fields exits Galiano Gold stake in C$151m deal
Gold major Gold Fields has divested its entire holding in Toronto-listed Galiano Gold, selling 50.47-million common shares in a C$151.4-million transaction.
The shares, representing about 19.5% of Galiano’s issued and outstanding equity, were sold on September 23 in a bought-deal block trade to BMO Capital Markets, Scotiabank and CIBC Capital Markets, at C$3.00 apiece.
Prior to the sale, 21.97-million shares were held by subsidiary Marsh Holdings and 28.5-million shares by Gold Fields Orogen Holding. Following the transaction, neither entity owns or controls any Galiano securities.
Gold Fields said the divestment was for investment management purposes. However, under a December 2023 share purchase agreement related to Galiano’s acquisition of Gold Fields’ 50% joint venture interest in the Asanko gold mine, Galiano may elect to issue shares in lieu of cash to settle a portion of deferred acquisition consideration. Should that occur, Gold Fields could regain a stake in the Canadian-listed company.
Gold Fields, headquartered in South Africa, operates nine mines across Australia, South Africa, Ghana, Peru and Chile, and has a development project in Canada.
Article Enquiry
Email Article
Save Article
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
REELIN is Currently the largest supplier of Bearings to Transnet. We have contracts to supply bearings, draft gears slackadjusters and other...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
