11:44 AM EDT, 09/10/2024 (MT Newswires) -- Centamin ( CELTF ) on Tuesday said it agreed to a US$2.5-billion buyout offer from AngloGold Ashanti ( AU ) .

The two companies agreed on the terms of the acquisition recommended by both boards. Centamin ( CELTF ) shareholders will receive 0.06983 of an AngloGold Ashanti ( AU ) sharesand US$0.125 in cash for each Centamin ( CELTF ) share held. The terms value each Centamin ( CELTF ) share at 163 pence based on the closing price of AngloGold Ashanti ( AU ) on Sept. 9, a premium of 37% to the closing price of Centamin ( CELTF ) shares on the London Stock Exchange 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 completion of the deal, AngloGold Ashanti ( AU ) shareholders will own about 83.6% and Centamin ( CELTF ) shareholders will own about 16.4% of AngloGold Ashanti ( AU ).

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

Centamin ( CELTF )' shares were last seen up $0.40 to $2.53 in early Tuesday trading.

Price: 2.53, Change: +0.40, Percent Change: +18.78