Endeavour Mining completes C$1B all-stock acquisition of SEMAFO Inc.

Date Closed

July 01, 2020

Lead Office

Toronto

Value

1.00 Billion CAD

On July 1, 2020, Endeavour Mining Corporation completed the acquisition of SEMAFO Inc. in an all-stock transaction valued at C$1 billion. This acquisition created a leading West African gold producer, with six operations, and one of the top 15 gold producers globally.

In addition, La Mancha Holding S.a.r.l., Endeavour Mining’s largest shareholder, exercised its pre-emptive right and invested US$100 million in support of the acquisition, following which it holds an interest of approximately 24% in Endeavour Mining.

Endeavour Mining Corporation is a TSX-listed West African gold producer that operates four mines across Côte d’Ivoire and Burkina Faso. Following the acquisition of SEMAFO Inc., Endeavour Mining now indirectly owns the Mana and Boungou Mines in Burkina Faso.

McCarthy Tétrault LLP advised Endeavour Mining on its acquisition and La Mancha investment with a team led by Eva Bellissimo and Shea Small that included Isabelle Nazon, Camille Paquette, Konstantin Sobolevski and Claire Lehan (Business), Jason Gudofsky and Julien Beaulieu (Competition), Raj Juneja (Tax), Michel Gagné, Gabriel Querry and Jean-Simon Castonguay (Litigation), Diana Theophilopoulos (Labour and Employment), and William Lee (Financial Services).

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