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IAMGOLD agrees to sell minority stake in Ghana gold mines for US$667 Million to Gold Fields

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IAMGOLD Corporation

On April 15, 2011, Gold Fields Limited (JSE, NYSE, NASDAQ Dubai: GFI) announced that it had entered into a binding agreement with IAMGOLD Corporation to acquire its 18.9% minority stake in the Tarkwa and Damang gold mines in Ghana, for a cash consideration of US$667 million. The completion of the proposed acquisition, which is subject to certain condition precedent being met, including Gold Fields shareholders approval, is expected by July 31, 2011. Fasken Martineau is counsel to IAMGOLD in this agreement with a team that includes Daniel Batista, Krisztian Toth, Aaron Atkinson, Michael Gleeson, Juho Song and Laurie Turner (corporate/M&A), and Mitchell Thaw and Christopher Steeves (tax).


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