06:41 AM EDT, 09/10/2024 (MT Newswires) -- Centamin ( CELTF ) on Tuesday said it received a US$2.5-billion buyout offer from AngloGold Ashanti.

The two companies have agreed on the terms of the recommended acquisition. Centamin ( CELTF ) shareholders will receive 0.06983 new AngloGold Ashanti shares and US$0.125 in cash for each share.

The terms value each Centamin ( CELTF ) share at 163 pence based on the closing price of AngloGold Ashanti on Sept. 9., a premium of 37% to the closing price of Centamin ( CELTF ) shares on Sept. 9.

Centamin ( CELTF ) shareholders will also be entitled to receive the interim dividend of US$0.0225 per Centamin ( CELTF ) share in respect of the six-month period ended June 30, to be paid on Sept. 27.

Following deal completion, AngloGold Ashanti shareholders will own about 83.6% and Centamin ( CELTF ) shareholders will own about 16.4% of AngloGold Ashanti.

Centamin ( CELTF ) is a gold producer and its flagship asset is the Sukari gold mine in Egypt.