OceanaGold signs deal to buy Australian company Ausgold in offer valued at US$549M
OceanaGold Corp. has agreed to acquire Ausgold Ltd. and its Katanning gold project in Australia for US$549 million. The deal represents a total offer value of A$1.36 per Ausgold share, as unanimously recommended by the Ausgold board. Shareholders of Ausgold will receive 0.03365 common shares of OceanaGold for each share they hold.
Alternatively, they can choose to receive cash, up to a maximum of US$137 million. Following the completion of the transaction, Ausgold shareholders will own between six and eight percent of OceanaGold. The Katanning project is situated approximately 275 kilometers southeast of Perth in Western Australia.
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