Newmont signs deal for $19.2 billion Newcrest buyout

Photo: Newcrest

Newcrest and Newmont have reached agreement to proceed with a proposal for Newmont to acquire 100% of the issued shares in Newcrest by way of an Australian scheme of arrangement.

The transaction will combine two leading gold producers and creating a new benchmark in gold production.

Newcrest’s Chairman, Peter Tomsett, said: “This transaction will combine two of the world’s leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline.  In addition to the ongoing benefits of merging these premier portfolios, the combined group will set a new benchmark  in gold production while benefitting from a material and growing exposure to copper and a market leading position in  safety and sustainability. The Newcrest Board is unanimously recommending the proposal. We are very proud of the  entire Newcrest team for building a world class metals business, which will form a key part of the combined group. We believe our shareholders and other stakeholders can look forward to an exciting and prosperous future.”