AngloGold Ashanti Acquires Brazilian Miner

August 2008 | M&A News Alert

South Africa's AngloGold Ashanti has entered into an agreement with Eldorado Gold to acquire 100% of its wholly owned subsidiary São Bento Mineração. AngloGold will pay US$70mn to Eldorado by way of a share transfer. São Bento owns São Bento Mine, which is located in the Iron Quadrangle region near Belo Horizante, Minas Gerais State, Brazil. São Bento Mine is located in the vicinity of AngloGold's proposed Córrego do Sítio Mine, the viability of which is currently under investigation by AngloGold's subsidiary AngloGold Ashanti Mineracão.

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