Randgold Resources and AngloGold to acquire additional 20% stake in Kibali Project from OKIMO

UK-based Randgold Resources Limited and South Africa-based AngloGold Ashanti Limited have entered into a definitive agreement to acquire an additional 20% stake in Kibali Project (formerly Moto Gold Project) located in Congo, from Congo-based Office des Mines d'or de Kilo-Moto (OKIMO), for $113.6 million. All the parties involved in the transaction are gold mining companies.

Following the acquisition, Randgold and AngloGold Ashanti will hold 45% each and OKIMO holds the remaining 10% stake in the project.

Shearman & Sterling LLP is acting as legal advisor to AngloGold.

Deal Value (US$ Million) 113.6
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Announced: 2009-10-31

Deal Participants

Target (Company)     Office des Mines d'or de Kilo-Moto (OKIMO) - Kibali Project (formerly Moto Gold Project) - Congo
Acquirer 1 (Company) Randgold Resources Limited
Acquirer 2 (Company) AngloGold Ashanti Limited
Vendor (Company)     Office des Mines d'or de Kilo-Moto

% Acquisition 20%

Related terms: acquisition, advisor, congo, gold, legal, mining, south africa, sterling