Gold Fields strengthens Australian footprint in A$3.7bn Gold Road deal
South African gold producer Gold Fields has entered into a binding agreement to acquire 100% of Australian gold miner Gold Road Resources, in a deal that values the takeover target's equity at about A$3.7-billion. The transaction will give Gold Fields full ownership of the Gruyere gold mine in Western Australia, a joint venture (JV) it currently operates with Gold Road. The sweetened offer, which is unanimously supported by the Gold Road board, follows weeks of negotiations between the companies.
South African gold producer Gold Fields has entered into a binding agreement to acquire 100% of Australian gold miner Gold Road Resources, in a deal that values the takeover target's equity at about A$3.7-billion.
The transaction will give Gold Fields full ownership of the Gruyere gold mine in Western Australia, a joint venture (JV) it currently operates with Gold Road. The sweetened offer, which is unanimously supported by the Gold Road board, follows weeks of negotiations between the companies.
