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Allied Gold C$5.5-Billion Sale to Zijin Gold Wins Canadian Approval; Closing Deadline Extended to July

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Allied Gold (AAUC.TO) said Friday that Zijin Gold received approval under the Investment Canada Act for its C$5.5-billion acquisition of the company, completing the Canadian regulatory review process for the deal.

Zinjin, which offering C$44.00 per share per Allied share, has also received merger approvals from regional regulators in West, Eastern and Southern Africa, while other required approvals in African host countries are either completed or in advanced stages, the company added.

The companies are also working on amendments to a related credit facility to help finalize the transaction. The deal still requires remaining regulatory approvals and other closing conditions, and the deadline to complete the transaction has been extended to July 29.

Allied shares closed closed down C$2.41 to C$34.90 on the Toronto Stock Exchange.

Price: $35.74, Change: $-1.57, Percent Change: -4.21%

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