06:55 AM EDT, 08/12/2024 (MT Newswires) -- Gold Fields ( GFI ) said Monday that it has entered into a definitive agreement to acquire all the common shares of Osisko Mining at CA$4.90 ($3.57) per share in an all-cash transaction, valued at about CA$2.16 billion.

If approved by Osisko shareholders, the deal will give Gold Fields ( GFI ) full control of the Windfall gold project in Quebec, Canada, which is currently jointly and equally owned and managed by the two companies.

Both companies' boards of directors have approved the acquisition, with Osisko directors recommending that shareholders vote in favor of the transaction that is expected to be finalized in Q4.

The company further said that in addition to cash on hand and the undrawn debt facilities, it has also received a commitment from several banks to provide US$500 million through a new bank liquidity facility to fund part of the transaction.

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