Zijin Gold International to acquire Allied Gold for $4.01bn

Core Viewpoint - Zijin Gold International Company has agreed to acquire Allied Gold for an equity value of nearly C$5.5 billion ($4.01 billion) in an all-cash transaction priced at C$44 per share [1] Group 1: Acquisition Details - The acquisition includes key assets such as the Sadiola Gold Mine in Mali, the Côte d'Ivoire Complex (including Agbaou and Bonikro gold mines), and the Kurmuk gold mine in Ethiopia, which is set to begin production in the second half of 2026 [2] - The agreement has no financing conditions, and the cash consideration will be funded from Zijin Gold's existing cash balances and available liquidity [2] Group 2: Strategic Intent - Zijin Gold's chairman, Hongfu Lin, emphasized that Allied Gold has developed a portfolio of large-scale, long-life gold assets with significant expansion potential, and the company aims to work with stakeholders in Ethiopia, Mali, and Côte d'Ivoire to enhance these operations [3] - The Sadiola and Kurmuk mines are described as generational assets expected to provide multi-decade production, supported by the production from the CDI Complex [3] Group 3: Transaction Closure and Regulatory Approvals - The transaction is expected to close by late April 2026, pending the satisfaction or waiver of necessary conditions and required clearances [3] - Completion of the acquisition is subject to several terms, including approval from Allied Gold shareholders, compliance with the Investment Canada Act, customary court approval, and no material adverse changes regarding Allied Gold [5] Group 4: Market Impact - Following the completion of the transaction, Allied Gold shares will be delisted from the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE), and the company will cease to be a reporting issuer under Canadian and US securities laws [4]