Norton Rose Fulbright advises Centamin on recommended offer by AngloGold Ashanti

Global law firm Norton Rose Fulbright is advising Centamin plc (Centamin) on the recommended US$2.5 billion shares and cash offer by AngloGold Ashanti plc (AngloGold Ashanti).

Centamin is a gold producer and its principal asset is the Egypt-based Sukari Gold Mine. The mine began production in 2009 and is the first large scale modern gold mine in Egypt, producing more than 400,000 ounces per annum with a 12-year life cycle.

AngloGold Ashanti’s recommended offer by Centamin is to be implemented through a court-sanctioned scheme of arrangement under Jersey law. Subject to Centamin shareholder approval and satisfaction of regulatory conditions, the acquisition is expected to become effective during Q4 2024.

The Norton Rose Fulbright team is advising Centamin on AngloGold Ashanti’s recommended offer. The team is being led by UK-based partners Emma de Ronde and Kit McCarthy, and senior consultant Chris Pearson, supported by a multi-disciplinary team from across the firm. The UK-based partners included Dominic Stuttaford and Matthew Findley (tax), Catrina Smith (employment), Ian Giles (competition) and Tom Vita (corporate), with additional support from senior associate Guy Perkins, associates Craig O'Malley, Daniel Femi-Alemede and Seamus Connelly, and trainee solicitor Elias Bassou (corporate); counsel Nick Howard (employment); senior associate Barbara Gaffey and associate Ed Spilman (tax); and counsel Jamie Cooke, senior associate Jack Jeffries, associate Matt Scott and trainee solicitor Anna Radford (antitrust). US-based partner Todd Schroeder assisted with the US tax elements, while Australia-based partners David Jewkes and Jeremy Wickens, senior consultant Robert Sultan, senior associate Ellen James and associate Andrew Harris further advised on corporate issues.

Emma de Ronde commented:

“We were pleased to support our client Centamin on its proposed US$2.5 billion acquisition by AngloGold Ashanti. Centamin has exceptionally strong credentials - with listings on the London Stock Exchange and Toronto Stock Exchange - and we are delighted that our multi-disciplinary, global team was able to help reach this significant milestone.”