Shearman & Sterling is representing AngloGold in its proposed $1.1 billion acquisition of Ashanti Goldfields Co. According to The Daily Deal, the deal would create the world’s biggest gold producer with mines in South Africa, Namibia, Zimbabwe, Tanzania, Mali, Ghana, Guinea, Australia and North America, producing about 7.3 million ounces of gold annually.
The merger is conditional on approval from the Government of Ghana (which holds 16.9% of Ashanti’s issued ordinary share capital). This is the first such arrangement to be effected under the Ghana Companies Code in its 40-year history.
