On January 28, 2022, Golden Star Resources Ltd. (“Golden Star”), an established gold mining company that owns and operates the Wassa underground mine in the Western Region of Ghana, West Africa, announced closing of a plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act involving Golden Star, Chifeng Jilong Gold Mining Co., Ltd. (“Chifeng”), an international gold mining company, Chifeng’s subsidiary, Chijin International (Hong Kong) Limited ("Chijin") and Chijin’s assignee Kefei Investment (BVI) Limited (the “Assignee”). Pursuant to the Arrangement, Chifeng, through Chijin and the Assignee acquired all of the issued and outstanding common shares of Golden Star for US$3.91 in cash per share. The transaction had a total value of approximately US$470 million on a fully-diluted, in-the-money basis.
Fasken advised Golden Star with a team led by John Sabetti that included Florind Polo, Rachel Charney and Krysten Zator (Corporate/M&A), Jon J. Holmstrom and Gabrielle Motuz (Banking & Finance) and Samuel Rickett and David Ziegler (Litigation) and Mitchell Thaw (Tax).
Jurisdictions
- Canada
- United States
- Ghana
