ASCOM Company for Mining sells 64.46% of APM Ethiopia to Allied Gold

M&A WATCH- ASCOM sells 64.46% of APM Ethiopia to Allied Gold for USD 14.5 mn: ASCOM Company for Mining divested 64.46% of its shares in Ethiopian subsidiary APM Ethiopia to Allied Gold Corp. for the equivalent of USD 14.5 mn (c. EGP 256 mn), according to an EGX filing. The sale will be completed and disbursed in tranches over the next 18-24 months. APM Ethiopia will spend the transaction’s proceeds on exploration, drilling, and feasibility work at its Western Ethiopia Dish Mountain concession, until Allied is granted full management control of the company.