{"id":570240,"date":"2020-03-24T04:16:33","date_gmt":"2020-03-24T04:16:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/endeavor-to-acquire-semafo-in-june-creating-west-africas-largest-gold-producer\/"},"modified":"2020-03-24T04:16:33","modified_gmt":"2020-03-24T04:16:33","slug":"endeavor-to-acquire-semafo-in-june-creating-west-africas-largest-gold-producer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/endeavor-to-acquire-semafo-in-june-creating-west-africas-largest-gold-producer\/","title":{"rendered":"Endeavor to acquire Semafo in June, creating West Africa\u2019s largest gold producer"},"content":{"rendered":"

<\/a> M&A WATCH- Endeavor to acquire Semafo in June, creating West Africa\u2019s largest gold <\/strong>producer:<\/strong> Canada\u2019s Endeavour Mining will acquire Toronto-listed gold producer Semafo in a USD 690.7 mn agreement set to be completed in June, Reuters reports<\/a>. Endeavour shareholders \u2014 which is 24.1% owned by the Sawiris family \u2014 will own around 70% of the combined company and Semafo shareholders the remainder. The group will be West Africa\u2019s largest gold producer<\/a>, based in Burkina Faso and C\u00f4te D\u2019Ivoire, and one of the biggest 15 worldwide, with an output of 1 mn ounces a year. The acquisition comes just two months after Endeavour ended its bid<\/a> to takeover Centamin.<\/p>\n

Sawiris said earlier in the day that he was looking to up his stake in La Mancha: <\/strong> \u201cI\u2019m increasing my stake in my company because the cost of producing an ounce is much lesser than the gold price itself,\u201d he told Bloomberg TV yesterday<\/a>. Sawiris is currently in talks with the Egyptian government to acquire a 51% stake<\/a> in state-owned Shalateen Mining, and has shown interest in bidding<\/a> in the gold exploration tender, which got underway last week<\/a>.<\/p>\n

Gold has been on the slide since the covid-19 pandemic began to roil the markets, but Sawiris sees gold as king in a crisis: <\/strong>\u201cI believe that when there is crisis, when people are done covering their margin cost, it\u2019s gonna go up,\u201d he said. \u201cI\u2019m still a buyer and I\u2019m still increasing my position.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Endeavor to acquire Semafo in June, creating West Africa\u2019s largest gold producer: Canada\u2019s Endeavour Mining will acquire Toronto-listed gold producer Semafo in a USD 690.7 mn agreement set to be completed in June, Reuters reports. Endeavour shareholders \u2014 which is 24.1% owned by the Sawiris family \u2014 will own around 70% of the […]<\/p>\n","protected":false},"author":1,"featured_media":570241,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4846,722,72,4847,2065,4845,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-benoit-desormeaux","tag-burkina-faso","tag-enterpriseam","tag-la-mancha-mining","tag-naguib-sawiris","tag-semafo","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3e5991b3-3312-493f-98af-cd5a233ee769","is_powered_by":true,"section_story_id":"8e4599c6-df5d-41fe-8401-aa0fa06a0891","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/271.jpg","photo_position":"above","related_issue":[570228],"teaser":"","voice_url":""},"yoast_head":"\nEndeavor to acquire Semafo in June, creating West Africa\u2019s largest gold producer - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/24\/endeavor-to-acquire-semafo-in-june-creating-west-africas-largest-gold-producer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Endeavor to acquire Semafo in June, creating West Africa\u2019s largest gold producer\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Endeavor to acquire Semafo in June, creating West Africa\u2019s largest gold producer: Canada\u2019s Endeavour Mining will acquire Toronto-listed gold producer Semafo in a USD 690.7 mn agreement set to be completed in June, Reuters reports. 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Endeavour and Teranga are discussing a \u201cmerger of equals style\u201d\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576248,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/17\/endeavour-to-acquire-teranga-gold-for-usd-1-86-bn-in-2021\/","url_meta":{"origin":570240,"position":1},"title":"Endeavour to acquire Teranga Gold for USD 1.86 bn in 2021","author":"enterpriseam admin","date":"17 November 2020","format":false,"excerpt":"M&A WATCH- Sawiris-backed Endeavour Mining will acquire Teranga Gold in a USD 1.86 bn share swap expected to close in 1Q2021, creating one of West Africa\u2019s largest 10 gold producers with an annual output of 1.5 mn ounces, according to a company statement. 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Sawiris and other family members have \u201clarge stake\u201d in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561401,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/sawiris-gearing-up-to-bid-for-gold-exploration-blocks-in-egypt\/","url_meta":{"origin":570240,"position":3},"title":"Sawiris gearing up to bid for gold exploration blocks in Egypt","author":"enterpriseam admin","date":"6 April 2021","format":false,"excerpt":"Naguib Sawiris is planning to take part in Egypt's ongoing gold exploration tender, the bn\u2019aire said at a conference yesterday, the local press reports. Sawiris\u2019 La Mancha Holding is the largest shareholder in Toronto-based Endeavour Mining, and also holds an almost 35% stake in Altus strategies, whose subsidiary Akh Gold\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/50.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569283,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/19\/sawiris-in-talks-with-govt-to-possibly-tap-into-gold-mining\/","url_meta":{"origin":570240,"position":4},"title":"Sawiris in talks with gov\u2019t to possibly tap into gold mining","author":"enterpriseam admin","date":"19 February 2020","format":false,"excerpt":"With amended Mineral Resources exec regs and a new tender on the way, Naguib looks set to get in on mining in Egypt: Naguib Sawiris is currently in talks with the government to participate in the upcoming international gold exploration and mining tender and is \u201cwilling to participate in any\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/253.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566349,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sawiris-endeavour-becomes-an-lse-listed-company\/","url_meta":{"origin":570240,"position":5},"title":"Sawiris\u2019 Endeavour becomes an LSE-listed company","author":"enterpriseam admin","date":"14 June 2021","format":false,"excerpt":"Naguib Sawiris-backed Endeavour Mining has listed today on the LSE after being admitted into the UK Listing Authority\u2019s premium listing segment, the company said in a statement. Endeavour, which counts Sawiris\u2019 La Mancha as its largest shareholder, set up a new holding company based in London that will also begin\u2026","rel":"","context":"In "SPEED ROUND: IPO WATCH"","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/480.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=570240"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570240\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570241"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570240"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570240"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}