Appleby acted as Seychelles, Cayman Islands and Jersey counsel to Allied Gold Corp in respect of its acquisition of 85% interest of Endeavour Mining's non-core Agbaou Mine in Cote d'lvoire through acquisition of shares of ENDEAVOUR RESOURCES INC, for a consideration of USD80 million with additional benefits via a Net Smelter Return royalty and its equity exposure.
Allied Gold is an African-focused gold company and the owner of the nearby Bonikro mine. Allied Gold intends to combine its operation with that of the Agbaou mine, post-acquisition.
Endeavour Mining is one of the world's top ten senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d'Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
This was a multi-jurisdictional transaction, involving Appleby's Seychelles, Hong Kong and Jersey offices. The Seychelles team was led by Group Managing Partner Malcolm Moller and assisted by Senior Associate Karishma Beegoo. The Hong Kong team was led by Counsel Vincent Chan. The Jersey team was led by Partner Andrew Weaver and assisted by Senior Associate Daniel Healy.
Malcolm commented "Our team regularly works with companies around the globe to help them deploy strategic growth and acquisition initiatives, whether involving single jurisdictions or complex multi-jurisdictional transactions. This transaction is a testament to our capability in this area."