Gold Fields completes its takeover of Osisko Mining

Gold Fields paid about C$1.93bn net of cash received and now owns 100% of the Windfall gold project in Quebec, which it previously held 50:50 with Osisko. It funded the deal with cash, undrawn debt facilities and a new liquidity facility. Windfall is expected to produce about 300,000 ounces a year.

Why it matters. Buying out a joint-venture partner gives full control of a project, and partners usually hold the best information on its value.

Source

BusinessDay

In the course

Module 9: The M&A process